Het enige regionale bureau voor handels- en investeringsbevordering in de groep in Afrika, het Caribisch gebied en de Stille Oceaan.
JoEllen is the Manager (Ag) for Partnerships, Advocacy and Reporting with Caribbean Export and manages all aspects of the Agency's communications within her portfolio.
Deze week stelt het team van Caribbean Export veertien Caribische merken voor op ’s werelds grootste tweejaarlijkse handelsbeurs SIAL in Parijs, Frankrijk. Gedurende de vijf dagen van14 tot19 oktober worden meer dan 310.000 bezoekers verwacht. De Caribische bedrijven zullen zich presenteren in het Absolutely Caribbean paviljoen.
Exposerende bedrijven zijn onder meer nieuwe merken zoals Only Coconuts by Precision Global Inc., die op een oppervlakte van 30.000 vierkante meter. ft. state of the art verwerkingsfaciliteit in Guyana, gecertificeerd non-GMO en HACCP produceren een reeks producten op basis van kokosnoot die 100% puur en natuurlijk zijn.
Met een frisse nieuwe look blijft VincyFresh (voorheen Winfresh) hun authentieke marinades, sauzen en specerijen presenteren en beloven ze u te helpen ‘LiveWell!’ door de beste ingrediënten te gebruiken die worden geteeld in de rijke vulkanische grond van St Vincent en de Grenadines.
Andere producenten van sausen en specerijen die ook aanwezig zijn, zijn Superb Blend van Jays Enterprises uit Barbados, Flauriels biologische en natuurlijke assortiment uit St. Kitts en Nevis en natuurlijke kurkumapasta Truly Turmeric uit Belize van Naledo. Ook de Surinaamse producent GOM Food Industries biedt zijn glutenvrije, veganistische, halal en no MSG-sauzen aan voor de export.
Voor de chocolatiers trekt Great Taste Award 2022 winnaar Cacoa Sainte Lucia de mensen aan die de bekroonde 100% cacoa veganistische chocolade en Premium Dark Chocolate Almonds willen proberen. Daarnaast fermenteert de Haïtiaanse producent Choko Lakay cacaobonen waardoor ze donkerder en zoeter van smaak worden met een zacht profiel.
Bij chocolade past Jamaican Blue Mountain Coffee van Country Traders. Deze zijdezachte, evenwichtige, volle koffie is ongetwijfeld de beste koffie ter wereld en is beschikbaar voor de export. De bonen zijn rechtstreeks afkomstig van lokale boeren in de Blue Mountains van Jamaica.
Als het op drank aankomt, staat het Caribisch gebied algemeen bekend als de bakermat van de rum en terwijl we premium rum uit de Dominicaanse Republiek verwelkomen met Chicaron (een kaneelrum), J&J Spirits en St. Lucia Distillers, hebben we V’Toria Rhonda Vineyard & Winery, dat in handen is van vrouwen.
V’Toria Rhonda biedt zes innovatieve, exotische, tropische fruitwijnen, gemengd met verschillende druivensoorten.
En na het proeven van al het eten en drinken uit de 200 landen op SIAL, moet u zeker de 100% natuurlijke plantaardige voedingssupplementen bekijken die Natural Organic’s LLC op de markt brengt. Hun supplementen zijn onder meer bedoeld om het lichaam te ontgiften, ontstekingen tegen te gaan, de bloedsuikerspiegel te reguleren en het cholesterolgehalte te verlagen.
Kurkuma stond de afgelopen vijf jaar bovenaan de lijst van “trending foods” en is nog steeds een van de meest gezochte ingrediënten door gezondheidsbewuste consumenten.
De “gouden specerij” wordt al eeuwenlang gebruikt in de traditionele en de kruidengeneeskunde, alsook in de Indische en de Aziatische keuken, maar de wereldwijde populariteit ervan is de laatste tijd toegenomen vanwege de bewezen gezondheidsvoordelen als zogenaamd “nutraceutical”.
De belangstelling van het publiek voor het vermogen van de specerij om ontstekingen te verlichten, de leverfunctie te verbeteren, chronische pijn te verlichten en de spijsvertering te bevorderen, heeft ertoe geleid dat de specerij gewild is als supplement en in een hele reeks voedingsproducten.
Kurkuma en het belangrijkste actieve ingrediënt, curcumine, zijn nu te vinden als toegevoegd ingrediënt in verschillende artikelen in de schappen van de supermarkt, zoals sauzen, smoothies, soepen, thee, saladedressings, en zelfs verpakte goederen zoals cornflakes. Het kan ook worden gebruikt als onderdeel van een rub voor vlees of vis en zijn kenmerkende gelige, oranje kleur geeft levendigheid aan kaas, mosterd en gedroogde kruiderijen, zonder de smaak te beïnvloeden.
De opkomst van kurkuma als een “food to watch” begon toen Google Trends gegevens een toename van 300% in zoekopdrachten voor het tussen februari 2012 en februari 2016 registreerde. Dit leidde ertoe dat de specerij werd vermeld als de nummer één food trend in de zoekgigant ‘Food Trends 2016: U.S.’ rapport, samen met andere voedingsmiddelen die ook nog steeds de aandacht trekken, waaronder jackfruit, bloemkoolrijst en zuurdesembrood.
Sinds 2016 is kurkuma consequent genoemd in het ’trending food’ gesprek en dat zal naar verwachting niet snel ophouden. Uit een onderzoek van de CBI van januari 2022 blijkt dat “wereldwijd en ook in Europa de consumptie van curcuma longa (ook wel kurkuma genoemd) de komende vijf jaar naar verwachting met meer dan 10% per jaar zal toenemen”.
Het CBI voegde daaraan toe: “De trend van gezondere eetgewoonten zal in de komende decennia waarschijnlijk de belangrijkste drijvende kracht blijven achter de ontwikkelingen op de levensmiddelenmarkt. Deze trend zal een positieve invloed hebben op de vraag naar specerijen zoals curcuma longa.”
Kurkuma in zijn zuiverste vorm inkopen is één manier om ervoor te zorgen dat u de vraag voorblijft. De specerij wordt in verschillende delen van de wereld geteeld, onder meer in het Caribisch gebied, en is het krachtigst wanneer zij vers en ongecultiveerd is.
Het in Belize gevestigde bedrijf Naledo heeft in dit opzicht een voorsprong, omdat het ’s werelds eerste producent was van in het wild gevangen, hele wortel omvattende “Truly Turmeric”-pasta.
Naledo, opgericht door moeder en dochter Umeeda en Nareena Switlo in 2016, is een sociale onderneming die rechtstreeks samenwerkt met meer dan 300 kleinschalige telers gevestigd in Toledo, Belize om een product te creëren dat duurzaam geproduceerd wordt van het bos tot op tafel met minimale impact op het milieu.
Naledo heeft wijdverspreide erkenning en prijzen gewonnen voor haar 100% natuurlijke kurkuma producten, die ook verse sappen en zelfs een huidverzorgingslijn omvatten. Het heeft ook bewondering geoogst voor zijn verbintenis om zijn boeren zesmaal meer dan de fair-tradeprijs voor hun producten te betalen.
Het bedrijf zal deelnemen aan de komende Speciality & Fine Food Fair van 5 tot 6 september 2022 in Olympia, Londen, als onderdeel van het “Absolutely Caribbean”- paviljoen, bestaande uit kleine bedrijven die worden gesteund door de Caribbean Export Development Agency en de Europese Unie.
Op het evenement zal Naledo zijn vlaggenschip ‘Truly Turmeric’ presenteren, dat verkrijgbaar is in vier formaten en twee smaken – ‘original’ en ‘black pepper’. De ingrediëntenlijst voor de originele smaak is hele wortel kurkuma, koudgeperste kokosolie, vers limoensap, en zeezout. Zwarte peper die in de bossen van Belize wordt geteeld, wordt aan het assortiment zwarte peper toegevoegd.
De variëteit kurkuma die door Naledo’s team wordt geteeld, heet Allepey en heeft de sterkste kleur en diepste smaak van alle soorten kurkuma. Allepey heeft normaal gesproken ongeveer 5% curcuminoïden, maar de kurkuma van Naledo heeft 7,6% curcuminoïden, volgens de website van het bedrijf.
Naledo’s ‘Truly Turmeric’ pasta wordt momenteel verkocht in meer dan 1.000 winkels in Canada, Amerika, UK, en Europa en online.
De smaak, het aroma en het verhaal achter Naledo hebben ervoor gezorgd dat het zich onderscheidt van de overvolle kurkumamarkt, die verder is gestimuleerd door de COVID-19 pandemie.
Sinds de wereldwijde gezondheidscrisis in februari en maart 2020 is uitgebroken, blijkt uit Google Trends-gegevens dat wereldwijd 670% meer wordt gezocht naar “voeding” en “immuunsysteem”. En de wereldwijde nutraceuticals-industrie zal tegen 2027 naar verwachting $722 miljard (VS) waard zijn, waarbij de verkoop in het segment van immuunversterkende voedingsmiddelen en dranken tegen 2025 naar verwachting de $17 miljard (VS) zal overschrijden.
De belangstelling van het publiek voor kurkuma en de voordelen ervan voor de gezondheid zal dus niet snel afnemen, zodat het waarschijnlijk is dat deze “trend” meer wordt dan een voorbijgaande fase.
Met nog maar zeven dagen te gaan tot de deuren opengaan van de Speciality and Fine Food Fair 2022, staan tien absoluut Caribische bedrijven klaar om hun productassortiment gedurende twee dagen te presenteren in Olympia, Londen, van 5 tot 6 september 2022.
Tot de authentieke Caribische bedrijven behoren Naledo (Belize), Superb Blend (Barbados) Old Duppy (Barbados), Flauriel (St Kitts en Nevis), Pringa’s (St Vincent en de Grenadines), Shavuot (Jamaica), St Lucia Distillers (St Lucia), Kalembu (De Dominicaanse Republiek) en de Antillia Brewing Company (St Lucia), CariBelle Foods (Trinidad en Tobago).
De bedrijven worden gepresenteerd onder een “Absolutely Caribbean”-paviljoen en worden gesteund door de Caribbean Export Development Agency in samenwerking met de Europese Unie; het doel is vooraanstaande Europese kopers en distributeurs aan te trekken.
Op5 september om 11.30 uur organiseert Caribbean Export een rondleiding voor de media op de stand, zodat de pers uit de eerste hand een blik kan werpen op de producten die de belangstelling hebben gewekt.
De producent van kurkumapasta met hele wortels, Naledo, heeft zelfs zijn Truly Turmeric-product laten selecteren door topchef Steve Walpole voor gebruik in de ‘Taste the Trends Kitchen’ op6 september om 10 uur ’s ochtends.
Bezoekers van de stand kunnen ook deelnemen aan een wedstrijd om een reis naar Saint Lucia te winnen met dank aan St Lucia Distillers en de Saint Lucia Tourism Board.
Ga met ons mee naar de Specialiteiten- en Fijnproeversbeurs en maak een reis langs de eilanden van het Caribisch gebied om het aanbod te ontdekken, van vurige hete pepersauzen, smaakvolle natuurlijke en biologische specerijen tot alcoholische dranken zoals Caribisch ambachtelijk bier, rum en mamajuana! Ontdek ook wild ambachtelijke kurkuma producten, natuurlijke theeën en vrij van producten.
In 2010 lanceerde Caribbean Export in samenwerking met de Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH (GIZ) het modulaire programma ProNET.
Oorspronkelijk gericht op productiebedrijven die hun bedrijf willen ontwikkelen en concurrerender willen worden, met negen modules in bedrijfsstrategie, kwaliteitsbeheer, productie, productontwikkeling, kennisbeheer, personeelsbeheer en financieel beheer, de Het ProNET- programma is inmiddels uitgebreid met een nieuwe module gericht op energiemanagement en duurzame energie.
Het programma is gebaseerd op een ervaringsgerichte leermethode en is een casestudy die is gebaseerd op en wordt aangedreven door praktische voorbeelden en opdrachten met behulp van technieken zoals groepswerk en gestructureerde leeroefeningen, open discussie, brainstormsessies en veldwerk.
We zijn nu bezig om de cursus te herzien en aan te passen aan uw behoeften.
Als je hebt deelgenomen aan een ProNET-cursus, is je input erg belangrijk voor ons en nodigen we je uit om deze enquête in te vullen.
Suriname – gelegen aan de noordoostkust van Zuid-Amerika, is een van de vijftien landen die deel uitmaken van CARIFORUM en was deze week de locatie voor ons executive team.
Onze uitvoerend directeur, Deodat Maharaj, heeft samen met Damie Sinanan, Manager voor concurrentievermogen en exportbevordering vergaderingen op hoog niveau gehouden met de minister van Buitenlandse Zaken, Internationale Zaken en Internationale Samenwerking – Min. Albert Ramchand Ramdin; de Min. van Financiën en Planning – Armand Achibersing en de minister van Economische Zaken, Ondernemerschap en Technologische Innovatie – Min. Saskia Walden (MBA, CFE) om de nieuwe strategische richting van het Agentschap te presenteren en relaties op te bouwen om de ontwikkeling van de particuliere sector in Suriname te ondersteunen.
From left: Damie Sinanan, Min. Walden and Deodat Maharaj
Caribbean Export heeft met financiering van de Europese Unie steun verleend aan Suriname. Sinds 2017 hebben zo’n 187 mensen uit Suriname deelgenomen aan Caribbean Export-activiteiten en tot nu toe is via onze verschillende subsidieprogramma’s meer dan US$147K aan bedrijven toegekend. Omdat we zaken willen opbouwen en levens willen transformeren voor een sterker Caribisch gebied, zijn investeringen een cruciale vereiste om onze visie te realiseren. Als zodanig is de facilitering van een Suriname Virtuele Investeringstop voorgesteld en deze staat wellicht binnenkort op de agenda.
Dr. Sinanan had ook een ontmoeting met verschillende belanghebbenden ter plaatse, waaronder De Associatie van Surinaamse Fabrikanten (ASFA), Vereniging Surinaams Bedrijfsleven (VSB) en het Suriname Business Development Centre in een poging om het bereik van onze interventies in de toekomst uit te breiden met meer Surinaamse bedrijven.
Caribbean Export blijft ijverig werken aan het versterken van onze relaties met belangrijke belanghebbenden en het bevorderen van nieuwe partnerschappen die ons dienstenportfolio kunnen uitbreiden om de ontwikkeling van de particuliere sector, de transformatie van onze economieën en het creëren van banen voor onze mensen te ondersteunen.
Minister of Agriculture and Fisheries, Hon. Audley Shaw has announced millions of dollars in investments in the agricultural sector.
Among them is a US$95-million investment to create a certified organic high-tech greenhouse farm in Goshen, St. Elizabeth, “which will be the largest, by far, in the regionâ€, he said.
He informed that the joint-venture project “will be undertaken on a 200-acre property over a seven-year period, and will specialise in Heritage and Heirloom produce, TOV tomatoes, bell peppers, bush beans, garlic, strawberries, cucumbers, sweet corn, watermelon, and other assortments of fresh produceâ€.
The Minister was addressing the opening day of the virtual Caribbean AGTECH Investment Summit 2021 (CATIS 2021 on Tuesday (October 5).
He further cited the US$6-million JFVL Agriculture Project, which will deliver fresh fruits and vegetables for the domestic market, including satisfying demand from the tourism sector.
The joint venture equity investment is centred on the establishment of a state-of-the-art fully integrated supply chain operation.
“The project involves the production, warehousing, cold storage, and multi-channel distribution of fresh produce on the domestic market,†the Minister said.
JFVL’s business model involves the engagement of contract farmers to farm a 600-acre property in Hill Run, St. Catherine, under the company’s direct management, Mr. Shaw said, noting that a feasibility study on the project has been completed.
In addition, the Minard Estate Farm in Brown’s Town, St. Ann, will be expanded under a public-private partnership to increase live animals, beef production, semen, and embryo production, and a 500-acre Agro Park will be built in St. Thomas, under joint-venture equity.
“It (agro park) will be a leading global development site for climate-smart agriculture production, resulting in import replacement of highly valued crops for distribution and export,†the Minister said.
The virtual Caribbean AGTECH Investment Summit was organised by the Caribbean Association of Investment Promotion Agencies (CAIPA), in collaboration with the Caribbean Export Development Agency and its partner, the Caribbean Agribusiness Association (CABA).
The three-day Summit was aimed at promoting the Caribbean as a destination for investment in high-tech agribusiness ventures, with a focus on the production of crops, meat, and seafood, as well as value-added products from the region using smart technologies.
Sea moss, also referred to as Irish sea moss, is a type of red seaweed or algae found around the shores of the Caribbean, North America, and Europe.
On several Caribbean islands, sea moss has been used medicinally for centuries, but it has recently become increasingly popular around the world as a so-called superfood because of its various health benefits.
It is estimated that 56 million metric tonnes will be required per annum as an alternative protein source by 2054 representing 5.94% of global protein demand.
Sea moss is also versatile as it can be made into a jelly and added to all kinds of foods including smoothies, sauces, and soups. It can also be blended with milk, sweeteners, and other ingredients to make a healthy drink.
Over 25 years ago, Dominican entrepreneur John Robin realised the potential for sea moss when he was studying in Canada for an associates degree in fisheries development.
John started working on a project around seaweed and that’s when he got the idea for his business Benjo’s Seamoss.
He recalls: I realised in the Caribbean that we have lots of people who know about sea moss in the various islands but nobody had commercialised it or made it readily available. My idea was to globalise the production and distribute sea moss around the world.
Seaweed presents tremendous backward linkages for agriculture in Dominica and the Caribbean. Seaweed has around 2,500 different applications so we need to utilise the potential of this product. Beverages is just one aspect.
When John returned to Dominica he set about researching ways to bottle sea moss, extend its shelf life, and build a Caribbean brand on the same level as American soft drinks giant Coca Cola.
He joined with a partner to establish his company and, after overcoming some initial spoilage and product development issues, they created their meal in a bottle concept which touted the nutritional health benefits of sea moss.
John explains: By consuming seaweed on a regular basis, the body can be purged of some of the impurities that we ingest through our food, water, and even the air that we breathe. The minerals in seaweed are also in the right quantities for the body to absorb and use on a daily basis, that’s why there is a global demand for sea moss right now.
Benjo’s Seamoss is made from seaweed that has been cultivated in the Caribbean. It currently comes in eight flavours; original, peanut, oats, linseed, pure, bois band, ginseng and ginger but can be adapted for individual markets.
John says: Once we get the sea moss we store it, wash it, boil and blend it and then mix it with other ingredients. We have a standard and well established formulation. Most people describe our product as the best tasting sea moss in the world.
John characterises his company as one of the most successful projects in the OECS. Benjo’s Seamoss is currently the largest drinks exporter from Dominica with 95% of the product being shipped to 20 countries in the Caribbean and worldwide.
John says the key to growing his company has been consistency along with customer service. We spend a lot of time on market research and continuously listening to the customer, John explains.
We try to determine what the customer needs, we respond to that, and then exceed their expectations. We continue to innovate, introduce new products, and have a professional approach to everything we do.
John is thankful for the support he has received from the Caribbean Export Development Agency, especially in terms of access to regional tradeshows, but wishes there was more emphasis on assisting well-established brands along with start-ups.
He suggests: I really think we need to focus on the movers and shakers in the Caribbean and provide sustainable support in a holistic way rather than a piecemeal offering. Our region has ideas, we have global products, but there is no coordinated strategy to help major exporters and that’s keeping us back.
We have to find ways to create viable, big companies that can impact whole economies by providing employment, generating foreign exchange, and addressing the imbalance of trade in our region.
John has been in business for more than a quarter of a century but he has no intention of slowing down. In fact, he has ambitious plans to advance the reach of Benjo’s Seamoss even further by expanding from a national to a global strategy.
He adds: We want to expand on the operation in Dominica but we also want to do more in different regions in the world. Shipping is expensive so it makes more sense to set up a factory in the US, Asia or Europe.
Celebrity chefs Craig and Shaun McAnuff are known for their flavourful, modern and vibrant Caribbean recipes.
The brothers, who are British but with Jamaican roots, launched their Original Flava brand in 2016 with a series of YouTube cooking videos and within a month attracted 70,000 followers. In 2019, their book ‘Original Flava: Caribbean Recipes from Home was a best-seller.
Craig and Shaun are on a mission to shine the spotlight on Caribbean cuisine by showcasing some of the most authentic, accessible, and tasty ingredients the region has to offer.
They believe food brings people together and want to share the happiness they experienced as children from their mother and grandmother’s Caribbean cooking.
At Caribbean Export’s Absolutely Caribbean Virtual Expo, the brothers took part in a live panel discussion on the versatility of Caribbean food.
Craig shared details about their incredible culinary journey and also spoke about the increasing popularity of Caribbean food in Europe and the UK.
“I think the love for Caribbean food really knows no boundsâ€, Craig said.
“It has such a range of different and exciting flavours as well as the culture of the food. It has the feel good factor and many nutritional benefits…adding Caribbean fruit and vegetables to your dishes makes food a lot more colourful.â€
In a pre-recorded video, Craig and Shaun used food products from several Caribbean manufacturers in their own recipes. They also shared five tasty tips on how these items can enhance every dish and bring the scintillating taste of the Caribbean into every home.
Watch the video for Craig and Shaun’s tips and tricks and read more below:
Tip 1 – If you’re looking for an alternative to ordinary flour, why not try gluten-free products using Caribbean staples like breadfruit, coconut, sweet potato or cassava. These products are light, tasty, healthy, and high in fibre. They are also ideal for making flavourful pancakes and dumplings.
The McAnuff brothers used O’s breadfruit flour to make dumplings to go with ackee and saltfish. Shaun said: “It takes a bit longer to work with, more kneading than usual, but the dumplings came out nice and fluffy. The flavour was also much stronger and better than normal flour.
Tip 2 Turmeric is widely recognised as a superfood but why use the powder when you can get 100% of the health benefits and taste from the root! Belizean-based company Naledo produces the world’s first whole-root turmeric paste called Truly Turmeric. This paste enhances the richness and flavour of curries and stews and can even be used in smoothies.
Craig added: Naledo’s turmeric paste was a real joy to work with. Using the root of the turmeric meant you could feel the zing, texture and deep rooted flavour. It’s also versatile. We loved it.â€
Tip 3 Caribbean cuisine is known for its heat and one of the best ways to introduce some spice is with a quality hot pepper sauce like Eaton’s Jamaican Scotch Bonnet. Maximise the flavour of soups, jerk chicken and even gravy by adding the sauce 10 minutes before serving.
Shaun also suggests using pepper sauce to control the heat in your dishes: “You can tip a bit in and taste it as you go along to work out how much you need or don’t need. We also use the sauce in jerk seasoning as an alternative to fresh scotch bonnet.
Tip 4 Viking Mango Chutney is the perfect combination of sweetness and spice. It introduces freshness and flavour and can be used to accompany any dish or to jazz up a salad. Add some lemon, lime and a little bit of water to the chutney in a pan and bring it to a boil to make a warm, tangy Caribbean style vinaigrette.
Craig said the family history behind Viking Mango Chutney particularly resonated with the brothers as well as the company’s close work with local farmers in St Lucia.
He described the smell of the chutney as incredible and added: Salad can be dry and boring sometimes we like to use something sweet with ours. But you can’t always get the right fresh mango, especially in the UK, so this chutney was just perfect, and it tastes unbelievable.
Shaun said: Mango chutney is also really versatile. You can use it as a plantain chip dip, as a dressing, or for Doubles as well. It’s amazing and natural.
Tip 5 The root of the sarsaparilla plant, supplied by Jamrow in Jamaica, is known to have various health benefits especially in relation to relieving joint pain and inflammation. Sarsaparilla roots can be blended, grated or boiled in a pot of water to make a soothing medicinal drink. Try something new and experiment with this Caribbean herb.
Shaun said: We’re familiar with the sarsaparilla drink from when we were growing up, so we were intrigued to use the roots. We made an iced tea and a hot tea by blending it and putting it into tea bags. It was a dense and strong drink.
Craig added: We grew up on cerasee and lemongrass tea, so it was intriguing to work with sarsaparilla, and you could feel the nutritional benefits. Herbal teas are also a huge thing right now in the UK.
Speaking at the Absolutely Caribbean Virtual Expo, the brothers enthusiasm for Caribbean food was tangible and they reiterated their commitment to promoting it around the world.
Shaun revealed: The most important thing for us is to keep flying the flag for Caribbean food. We just want to make people aware of the array of natural flavours, spices, and remedies the Caribbean can show the world. We’ll keep making Caribbean recipes, putting the Caribbean flag on the map, and letting people know that this is the best food to go too.
If you haven’t heard already, Absolutely Caribbean, our first virtual event kicks off next week. We have more than 50 producers exhibiting over the two days. From organic beauty products to aged rum, hot pepper sauces and condiments, these are some of the best and most exciting producers from the Caribbean.
The event programme has shaped up nicely and is bursting with interesting sessions that you simply won’t want to miss. Here are just some of the highlights –
Partners, Original Flava, will show us how versatile Caribbean products are in everyday cooking. ITC-Alliances for Action will present a review on the main food trends and opportunities for the future. There will be sessions on plant-based ingredients which have seen a surge in demand in recent years. Another will run through the history of rum, including a selection of some of the best ones available. You’ll have the opportunity to learn all about trends, business innovation and social inclusion within the coffee market as well as learning all about chocolate as a mass product with the potential to leverage real change within our food system. What’s more, you will be able to book slots with each and every one of our producers to find out more about their products and how they are made.
Over the last few years, we have seen a growing trend for Caribbean products across Europe which is really exciting and provides great opportunity for our producers. In 2018 alone, over 26 Billion Euros worth of goods and services were exported globally from Caribbean Forum (CARIFORUM) and 17.6% of this was to Europe. If you want to read more about the profit potential of Caribbean products across the UK, Germany, Spain and the Netherlands, make sure you read our report (here).
If you haven’t signed up already, what are you waiting for?
Health-conscious consumers are driving the increasing demand for natural products and ingredients. Research shows that the global natural food and drinks market was valued at $79.1 million in 2016 and is estimated to reach $191.9 million by 2023 – a compound annual growth rate of 17.6%. The term ‘natural’ has a range of connotations, but all of them are overwhelmingly positive, and signify how invested consumers are in trying to maintain a healthy lifestyle.
In a 2018 global study, Ipsos asked consumers to interpret the term ‘natural’ and the three most common associations were:
• Healthy. • No artificial ingredients. • 100% from nature.
The public gravitates towards natural products because they believe these offer health benefits which cannot be replicated by man-made substances.
Back to nature
The Caribbean is a tropical haven for a range of plant-based ingredients, so it’s no wonder the region is seeing a surge in demand for its natural produce.
This year, Food Matters Live will welcome Caribbean suppliers of natural goods including herbal teas by Caribbean Cure and Shavuot International; the world’s first turmeric paste from Belizean company Naledo and organic chocolate and cocoa based products by Cold Bush Organics from Jamaica’s famous Blue Mountains range, courtesy of the Caribbean Export Development Agency.
These companies and more are actively taking advantage of the Caribbean’s indigenous bounty.
Caribbean Cure, based in Trinidad and Tobago, prides itself on “harnessing the power of nature†in its organic loose leaf teas and tea bags.
Utilising Caribbean herbs, roots, plants and barks which are traditionally known for their unique healing and health properties, Caribbean Cure’s infusions are not only natural but delicious. They contain no preservatives, additives, or artificial flavourings and a special dehydration process ensures customers taste “the maximum amount of wellness in every dropâ€.
The award-winning company was founded by Stacy Seeterram and Sophia Stone.
“When we began handcrafting our blends, we had one simple mission – to share our passion and love for the age-old traditions and healing qualities of Caribbean herbs,†Sophia recalls. “We visited farmers, herbalists and tea lovers from across the region to find out what makes the perfect cup of natural tea. We were determined to create much more than tea with health benefits.â€
Stacy adds: “The secret is in the process. The tea leaves are slow dried to maximise nutrient content. Each blend offers a delicate balance formulated to create a memorable and unique experience in every cup.â€
Authentic and good for you
Shavuot International is a family-owned Caribbean company which has also tapped into the ever-increasing consumer appetite for all things natural.
Shavuot’s products include exotic tea blends, natural skin and hair treatments, breadfruit flour and powdered spices.
The Jamaican company’s teas rely on natural ingredients of the highest quality, handpicked and manufactured to preserve the rich nutrients in each blend.
Its loose tea is made from local leaves and seeds of the moringa plant, turmeric, cinnamon, cerasee, ginger and peppermint.
Shavuot, which means harvesting goodness, prides itself on using ethically and organically sourced ingredients produced through sustainable community development partnerships and with the support of local farmers.
The company currently exports its products to over 13 countries including the US, UK, Australia, Canada and around the Caribbean.
If there is one thing Jacqueline Cort-Thomas has learnt from her COVID-19 experience, it is that business people need to diversify. The pandemic was certainly a wake-up call for the owner of the Villas at Sunset Lane, a 10-room boutique hotel located on the idyllic island of Antigua.
Ms. Cort-Thomas, who was a beneficiary of the Caribbean Export Development Agency’s WE-Xport programme, an initiative which provides technical support to regional female-owned businesses, had leveraged the support of the programme to re-build the accommodation’s brand to attract group travelers and offer an alluring calendar of events.
Through the WE-Xport programme, Ms. Cort-Thomas accessed business coaching and technical assistance. After delving into her business operations she sought to re-structure finance and subsequently secured a lower commercial interest rate on her company’s outstanding loan. After hounding the bank for a good four years, the bank finally acquiesced on January 2020 to a 7.5 % rate from 9 5 %. This was a huge game changer for the business’ bottom line, she said.
Ms. Cort-Thomas also successfully rebranded the villa’s identity, launched an engaging website and transformed the property into a hot event location, with bookings for Jazz, Just Desserts Pop-Up, culinary re-treats, a film festival and tea parties, amongst others.
As the benefits of the WE-Xport programme were coming to fruition, they quickly came to an abrupt halt when the novel coronavirus escalated globally. The travel and tourism industries were hit hard as countries announced plans to close their borders and governments issued calls for their citizens to return home.
We began to feel the effects of COVID-19 around March 23 when there was a possibility of Antigua & Barbuda closing their borders. Guests who were already in the hotel hurriedly changed their flights to get home and all the bookings down to August were cancelled,†she recalled.
The islands borders were officially closed on March 28 and a lockdown was quickly implemented. The hotelier was forced to lay off staff.
It totally brought a halt to accommodation, the core business of Villas at Sunset Lane. It affected our entire calendar of events as all our special events which were planned and developed, some with sponsors in place, had to be cancelled. Everything came crashing down, leaving the company with zero cashflow. It became evident that all my eggs were in one basket which had sprung a gaping hole. It taught me that I needed to diversify my product offerings,†she revealed
With downtime on her hands, Jacqueline drew on her culinary skills and training to offer a Home Cooking and Delivery Service. Although it gained traction initially, it wasn’t sustainable as momentum slowed down.
There was a demand from some quarters for precooked meals. Villas at Sunset Lane attempted to benefit from the demand but as the curfew started to relax, we found our new customers began to return to their familiar watering holes. It was not worth the effort to continue the food service,†she explained.
Fortunately for Jacqueline, she and four other persons had previously invested in a business called TCG (Antigua) Ltd, which manufactures need-based†products such as citronella candles and insect repellent.
She disclosed: Even though the hotels were all closed creating zero demand for Villas at Sunset Lane, households still needed these products so sales continued but on a reduced level. The factory is now looking at producing hand sanitizers another need-based product for sale locally with the aim to expand regionally.â€
Ms. Cort-Thomas explained that TCG (Antigua) Ltd had the potential to scale up but it was in need of technical assistance. The predominantly female-owned company is hoping to benefit from the Caribbean Export Development Agency’s WE-Xport Programme, which is also designed to help regional business women start or increase exports of their products and services.
So far, TCG (Antigua) Ltd. had begun the process of seeking authorization to enter several markets including Grenada, Guyana, St. Vincent and the Grenadines as well as Trinidad and Tobago. There are plans to re-introduce the product line in St. Kitts and Nevis.
I view this move as part of me pivoting into a more sustainable business opportunity since in my opinion accommodation will struggle for the next two to three years to get back on a profitable footing,†she expressed.
Ms. Cort-Thomas intends to create a symbiotic relationship between her two businesses, possibly bringing the industries of tourism and manufacturing a bit closer.
Villas at Sunset Lane is in the process of developing an e-commerce store which will sell key products made in the Caribbean. TCG (Antigua) Ltd is planning on improving its current line of fragrance candles with a focus on satisfying the Spa & Wellness market. The fragrance candles will be part of gift packages sold via the online store,†she said.
Now that the country has reopened its borders to tourists, Jacqueline shared that the Villas at Sunset Lane received permission from the Antigua Tourism Board to operate again. The board is responsible for examining hotels on the island to ensure they are compliance with COVID-19 protocols. And although, overseas visitors haven’t returned to the accommodation as yet, Jacqueline indicated there was increased interest in staycations from locals.
Nonetheless, despite the pandemic being emotionally and financially burdensome for Ms. Cort-Thomas, the businesswoman strongly believes that for her, COVID-19 was an important teaching moment.
This pandemic has disrupted global supply chains adversely affecting companies’ inventory levels. This brings inventory management to the fore as firms must balance having adequate stock levels to meet customer demands against holding too much stock which can have an adverse effect on cash flow. The cost of carrying inventory is usually higher than the cost of carrying accounts receivables. Therefore, focusing strategically on reducing inventory may improve a company’s bottom line. Moreover, studies have shown that improving inventory management processes can help businesses reduce spending by as much as 25%.
To strategically manage inventory in a way that creates fiscal space for the business, measurements such as monthly analyses of average inventory levels held in days, periodic inventory counts, and sales forecasts are useful. An optimum inventory level should be the goal as too much or too little can be costly to your business. There are useful formulae like SQRT (2SO/CP) which helps businesses to determine economic ordering quantities. While not a silver bullet, it helps to answer two critical questions regarding inventory levels: how much and how often should inventory be ordered? There are numerous types of inventory management systems available to SMEs. Because optimizing inventory levels is a key component of managing cash flow levels, it is important for building financial resilience in SMEs.
Leverage bank & government initiatives
Securing livelihoods and stimulating economic recovery are priorities for governments across the region and several initiatives to support businesses have already been announced. Similarly, banks are offering their business clients opportunities to improve liquidity through restructuring debt repayments and revising interest rates. Here are some of a few examples of what is happening across the region.
Debt Repayments: In the Dominican Republic, credit restructuring is in place to ensure that debtors’ credit ratings are not reduced because of payment arrears caused by the current situation. In Belize, the Central Bank has extended the time (from 3-6 months) to classify non-performing loans for certain companies such as restaurants, transportation, and distribution. Both banks and credit unions have been encouraged to provide grace periods for servicing interest and/or principal components of commercial loans.
Interest Rates: In Trinidad and Tobago the Central Bank has requested money lenders to arrange deferred payments and to reduce interest rates for members. Interest rates on credit cards are expected to be reduced by 10-17% of existing rates. The Bank of Guyana has also urged commercial banks to reduce interest rates on loans and allow deferral of repayments for businesses while in Grenada, businesses in the agro-processing, agriculture and fisheries sector are being offered an interest rate of 3% from the Small Business Development Fund (SBDF).
Liquidity Access: In Barbados a BDS $40 Million VAT Loan Fund has been created to support VAT registered companies with an annual turnover of BDS $200,000 in sales whose cash flows have been severely disrupted by the pandemic. In Jamaica the Business Employee Support and Transfer of Cash (BEST Cash) is a program set up to provide temporary cash transfers to registered businesses operating in the tourism industry which are licensed with the Jamaican Tourist Board. In addition, the Trinidad & Tobago government will provide TT $100 million to the credit union movement for liquidity support to small businesses that qualify for credit union loans. Meanwhile in Grenada, the SBDF has increased its maximum threshold to EC $40,000 while the threshold for unsecured loans is EC$10,000. Lastly in the Dominican Republic the government through the Employee Solidarity Assistance Fund is covering part of the salary expenses in companies experiencing economic difficulties.
Direct Support Grants
Caribbean Export Development Agency will be offering direct support grants to SMEs in CARIFORUM to support a several activities including business continuity via a new programme developed specifically to mitigate the impact of COVID-19 on business. This Direct Support Grant Programme is pegged to launch in July. Subscribe to our mailing list to be informed when the programme launches.
This list is by no means exhaustive and exporters are encouraged to explore the different types of support available in their respective countries. Building financial resilience must take place at the firm level through protecting cashflows, maintaining and using financial intelligence and strengthening inventory management. Fortunately, governments in the region have come to the aide of the private sector by creating the regulatory environment necessary to further strengthen private sector financial resilience.
