Investment Opportunities on the Rise for Coconut and Palm Oil Production

Hope Coconut Industries Ltd., owned and operated by the Ministry of Agriculture, is working with the Caribbean Agriculture Research and Development Institute (CARDI), to provide a revolutionary crop production scale of the Brazilian Green Dwarf coconut variety. Brazilian Green Dwarf remains strong against pests and diseases common among similar agronomic crops, and produces a larger amount of water than most other species of coconut in Guyana. This water content also contains more sucrose compared to those species. According to Minister Zulfikar Mustapha, “Internationally, the coconut industry is expected to be a US $30 billion industry by 2026, therefore it is important for us to set the stage to tap into this market. We will be working to develop industries utilizing four popular bi-products of coconut which include the husk, shell, meat, and water. This is why the Ministry has been working to develop coconut nurseries and decentralize the production of coconut seedlings across the country. Through close collaboration with CARDI, Hope Estate was able to develop one of its first coconut nurseries under the National Coconut Decentralization Programme.” Alongside the expansion of the coconut industry with varying species, and a thousand seed nuts yet to arrive at the end of this year, Colombian investor Palnorte SAS, focused on the operation of palm oil mills has shown interest in the development of a palm oil production project. According to Grand View Research (2022), the palm oil industry has the potential worth of US $98.9 billion by 2030. Together, coconut and palm oil production may add to the genetic diversity of high-yielding crops in Guyana, assist greatly in meeting the reduction of the regional food import bill - 25% by 2025, and build a carbon sink.

Source(Image: Brazilian Green Dwarf, Shutterstock)

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9 Dec 2022 12:00 | by anaraine