Agro Investment Corporation (AIC) is offering 200 acres of unirrigated land for the cultivation of a range of crops that have the potential to earn farmers millions of dollars from export.
According to AIC, a market sounding was done and it was realised there was limited production islandwide of castor bean, Sea Island cotton, and orchard trees such as avocado, breadfruit, ackee, as well as coconut.
The 200 acres on AIC’s Amity Hall Agro Park in St Catherine were packaged into 40-acre parcels.
“The lease tenure is 15 years renewable. The cost per acre per annum was originally set at $6,000; however, after careful consideration and an analysis conducted on the market it was lowered to a more than reasonable $4,000,” AIC said in a news release.
The corporation said that to support the investment opportunity it has ensured there is road access to each parcel of land. Additionally, it will offer business planning advice, investment profiles for the selected crops, technical and marketing support, as well as tractor services.
“The corporation strongly recommends that farmers take advantage of this investment opportunity as research has shown that there is strong market demand for these crops. So far, there has been no systematic planting of avocados in Jamaica, therefore the opportunity now exists, with Agro Invest taking the initiative to provide land for the production of this lucrative crop,” AIC said, adding that it has advertised the offer on most media platforms.
The corporation also said that the land is a clay loam soil type, which is suitable for the cultivation of the tree crops.
“Ackee, for instance, is not only a staple of the Jamaican diet, but was ranked number two in the world by a 2011 National Geographic survey of national dishes. It is also high on the demand list for the Jamaican Diaspora in the US, Canada, and the UK,” AIC said.
“Breadfruit, another recommended tree crop, is gluten-free and has become highly sought-after for its numerous nutritional properties. Over the five-year period 2013-2017, there was a 90 per cent increase in the amount of breadfruit exported, largely to the United States market, and a 70 per cent rise in the value of the export,” AIC stated.
“Therefore, with the world moving towards gluten-free products, there is a strategic advantage for Jamaica in ramping up breadfruit production.”
In relation to castor oil, which is expected to grow in value to US$1.72 billion globally by 2025, the AIC said Jamaica is poised to benefit from this lucrative industry as use of the product is ingrained in our culture and the product extracted here is touted as one of the best in the world.
Trade analysts have attributed the projected growth in the global castor oil market to increased consumption of the product in biodiesel feedstock.
The opportunity for farmers to earn from Sea Island cotton was also highlighted by AIC, which pointed out that the product is the world’s best quality cotton based on its fibre length, silk-like quality, fineness, and texture.
“There is a high demand internationally with buyers from Switzerland, Japan, the United States, Italy and the United Kingdom,” AIC noted.
Additionally, AIC said there is growing demand for coconut water and coconut value-added products, such as coconut oil. “The potential exists for supplies to both the regional and export markets in the US, Canada, and EU.”
The AIC said anyone interested “in this investment opportunity should provide a business proposal, as well as marketing and financial information and a completed lease application form”.
A checklist of all requirements as well as application forms can be accessed from the corporation’s website at www.agroinvest.gov.jm.
Further information can be obtained by calling the AIC at 876923-0086 or 876764-8071, or visiting the AIC office at 188 Spanish Town Road, Kingston 11 to talk to representatives.
Interested individuals may also make contact through the AIC’s social media pages at agroinvestja.
Reference link: AIC makes 200 acres available for farming (jamaicaobserver.com)