The Bahamas could be on a path to self-sufficiency in egg production, given that at least three new prospective poultry producers have proposals before the Ministry of Agriculture, Minister of Agriculture and Marine Resources Michael Pintard told Guardian Business yesterday.
Pintard explained that once those producers get started, the country could have enough locally-produced eggs to satisfy the local market within three years and then possibly enough chickens produced for the local market shortly thereafter.
According to Pintard, one of those prospective producers is Bahamas Striping Group of Companies (BSGC), which was approved to begin poultry production three years ago.
It was BSGC’s intention to produce 30,000 fresh chickens per week, but that plan was derailed over World Trade Organizaiton concerns and Hurricane Dorian.
Pintard said the company is now back in the mix.
“There are several groups that have submitted proposals to the Ministry of Agriculture in order to have them reviewed. Among them is the Bahamas Striping Group, which was previously approved by Cabinet to proceed,” said Pintard.
“At that time, one of the requirements from companies entering that space was some degree of protection in terms of having market access, that Bahamian groups ought not be made to invest substantially in a sector, meet the international standards required and yet do not have access to markets because the preference of buyers, whether they are hoteliers, restaurants or food stores, is that they import.”
The government’s mandate that wholesale purchasers source 40 percent of available items locally adds certainty to the investment of those interested in entering the poultry business.
Pintard said two groups already have access to funding and his ministry is awaiting final answers to questions it has raised about the business plans. In addition, venture capitalists have also shown interest in the sector.
“We have had Bahamian venture capitalists who have come forward interested in collaborating with the government in plugging some of the gaps along the value chain, their interest was not confined to any particular sector and one of those sectors we pointed them to was in fact the poultry sector, in both broiler and egg production,” said Pintard.
He added that one of the setbacks to getting the sector moving was data needed by investing companies on egg and broiler production and needs in the country.
The said the government itself injected 12,000 birds into the market recently and would have provided 20,000 to farmers by summer.
The post Pintard: Egg, broiler producers have submitted proposals appeared first on The Nassau Guardian.
source https://thenassauguardian.com/pintard-egg-broiler-producers-have-submitted-proposals/
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