CIF 2023 - Investment Catalogue

AGRIBUSINESS & AGRICULTURAL TECHNOLOGY

GRENADA

NAME OF PROJECT: Mango and Avocado Export Investment Opportunity

Grenada’s avocado and mango industry is a growing sector in the country’s agricultural landscape, with significant potential for export. Mangoes are among the top 5 fruit crops produced in Grenada, while avocados are a newer and rapidly growing crop. Mangoes are primarily exported to regional markets such as Trinidad and Tobago, St. Vincent, and the Grenadines. The price of mangoes for export varies depending on the market and quality of the fruit but generally ranges from US$0.60 to US$1.20 per pound. As of 2023 The United States Department of Agriculture (USDA) and the Animal and Plant Health Inspection Service (APHIS) lifted the 20-year ban on Grenadian mangoes on the US market. This, therefore, lead to a local trafficker shipping over 100 boxes of St Julian/ Julie, Ceylon and Graham mangoes in April of 2023. In comparison, Grenada’s avocado exports are still in the early stages of development, but the potential is significant. Prices for avocados for export can vary depending on the market, but are generally in the range of Problem Definition: Grenada has approximately thirteen recognised Spas. These include stand alone businesses as well as those that are part of a hotel operation. These spas utilises an element of their own products blended with essential oils. High end Spas may carry international brands. There is no single producer of spa products on the island that specialises in producing oils and scent bars for the industry. Solution: Grenada has a rich flora and fauna ecosystem that can boost of a mix of medicinal and aromatherapeutic plants that can be used to manufacture essential oils, candles, body wraps, polishes and other spa products. Investment in a multifaceted manufacturing plant to extract these oils holds tremendous potential and financial returns. Examples of commonly used plants in the essential oils industry that are prevalent in the region are : clary sage, eucalyptus, fennel, ginger, helichrysum, lavender, lemon, lemongrass, mandarin, peppermint, rose, rosemary and vetiver. NAME OF PROJECT: Production and Spa Products and Essential Oils

US$2.50 to US$3.50 per pound. The growing interest in avocados and mangoes in Grenada is driven by several factors, including increasing demand for these fruits in regional and international markets, and the potential for value-added products such as avocado oil and mango puree.

MODE OF INVESTMENT: • Equity INVESTMENT AMOUNT (USD) • $1,500,000

Contact Person: Mrs. Cathyann Alexander-Pierre E: cpierre@gidc.gd

MODE OF INVESTMENT: • Equity INVESTMENT AMOUNT (USD) • $25,000,000

Contact Person: Mrs. Cathyann Alexander-Pierre E: cpierre@gidc.gd

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