Caribbean Export OUTLOOK 2016 - 2017

OUR COMPETITIVE ADVANTAGE

The next stage in product and process innovation of the fine cocoa sector in the Caribbean is already underway with a US$2.5 million project.

Government Role & Support In general the governments of the Caribbean have been playing their part in supporting the sector’s transformation by liberalising their domestic markets for the buying and selling of fine cocoa beans. Public sector monopolies are giving way to a more competitive marketplace, but there are still important areas requiring governmental support to secure the future of the fine cocoa industry. For example, there is coordination between ministries of government in Jamaica through projects initiated by CFCF and funded by the European Union and these should continue and increase in intensity. Such initiatives synergise the resources of Agricultural Colleges (Ministry of Education) and the Agricultural Research Centres (Ministry of Agriculture), getting rural youth involved and inspired with prospective entrepreneurial ventures. Further initiatives are planned for linking in the Ministry of Industry & Commerce (Agro-processing) and the Ministry of Tourism (supply chain to tourists as end consumers). Elsewhere, the Cipriani College in Trinidad is designing support programmes for developing models for modern day collectives and cooperatives which can benefit hundreds of small cocoa farmers across the Caribbean.

Other practical ways in which Caribbean governmentscanassistthefinecocoasectorinclude: • Supporting the sector’s infrastructure – nurseries for cocoa production; germplasm breeding programmes; and rural road networks; • Updating legislation on issues affecting modern rural enterprise development – e.g. anti-praedial larcenymeasures and the Road Traffic Act (regarding the use of All Terrain Vehicles ATV’s); • Implementing practical ownershipmeasures for land assets, making small farmers more bankable; • Drafting micro-finance legislation and supporting subsidised lending against the biological assets that are cocoa trees; and • Promoting and protecting the global branding, the quality of fine cocoa beans and their derivatives. Furthermore pan-Caribbean governmental collaboration to make the market function in some aspects in a more integrated manner will help mitigate the risks associated with business interruptiondue to climate change, environmental damage, disease outbreaks etc. The Future is more Innovation The next stage in product and process innovation of the fine cocoa sector in the Caribbean is

already underway with a US$2.5 million project to establish the International Fine Cocoa Innovation Centre (IFCIC) at the University of theWest Indies in Trinidad, in partnership with the CFCF, the Cocoa Research Centre (CRC) and Newer Worlds, UK. This Innovation Centre will provide the infrastructure for action research, development, experimentation and business modelling for extracting more of the economic value of the cocoa bean. This will be effected through the provision of specialised processing equipment and the know-how to convert the bean to the many downstream derivatives – cocoa butter, cocoa powder, cocoa paste, cocoa liquor, and couverture – which create the basis for diverse consumer products in the food, drink and health sectors. Incubation is also part of the service offering at the Centre which supports clusters of entrepreneurs with business, finance, operational, marketing, trade and export expertise. The Innovation Centre is scheduled for completion in 2017 and the project is currently open to engagement with the regional and international public and private sectors, to explore the exciting possibilities for stimulating the sustainable development of the fine cocoa sector across the Caribbean, so that its revival continues well into the next century.

Vernon “Patrick” Barrett is an International Business Consultant who specializes in global trade, enterprise development and innovative sector transformations as Managing Director of Newer Worlds (UK). He is also a Director of Caribbean Fine Cocoa Forum.

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