Commodities Sector Ripe for Diaspora Investment

The Jamaica Agricultural Commodities Regulatory Authority (JACRA) is encouraging nationals in the diaspora to invest in the commodities sector.

Speaking to JIS News on the Marketplace floor at the just-concluded 11th Biennial Jamaica Diaspora Conference in Montego Bay, St. James, Acting Director General of JACRA, Wayne Hunter, said that Jamaican spices, cocoa, coconut and coffee are ideal areas for investment.

“What we have is high demand for our ginger, turmeric and pimento, and the diaspora can start at all levels. They can invest in a farm, processing… pharmaceuticals, nutraceuticals cosmetics… . I believe that’s a great opportunity for our diaspora this time,” he pointed out.

Meanwhile, Mr. Hunter welcomed the opportunity to share the JCRA commodities, primarily coffee, with the delegates. JCRA was the official coffee sponsor for the conference.

Mr. Hunter lauded the work of the Ministry of Foreign Affairs and Foreign Trade in organising the conference, noting that it exceeded expectations.

“The support is overwhelming, and we really appreciate each and every one who would have travelled near and far to make the conference possible,” he said.

An entity under the Ministry of Agriculture, Fisheries and Mining, JACRA was established to streamline the regulation and development of the commodities industries, including coffee, cocoa, coconut and spices.

Its functions include monitoring and licensing dealers, manufacturers, processors, and nursery operators, overseeing a digital regulatory platform to authenticate Jamaican agricultural products, and working closely with stakeholders to provide farmers with technical training, clean planting materials, and fertiliser inputs to rehabilitate and boost crop yields.