As global supply chains become increasingly fragmented amid the spread of Covid-19, the discourse around food security in Trinidad and Tobago is being reinvigorated. While ministers made itclear that T&T has sufficient food supplies for up to six months, policymakers have underscored the importance of prioritising domestic agricultural production. Kevin Charles, chief secretary of the…
Interview:Nirmalla Debysingh-Persad What can be done to boost production and tap into the islands’ agricultural potential? NIRMALLA DEBYSINGH-PERSAD: We are delighted to see an increasing number of farmers coming into production. According to our estimates, there are around 23,000 farmers registered in Trinidad and Tobago and approximately 35,000 farmers working in the country, representing…
Alongside tourism and financial services, agro-industry is an area that holds significant potential for diversification and growth in Trinidad and Tobago’s economy. With a rich tradition of agricultural production and a climate that facilitates the cultivation of a number of cocoa hybrids, the sector has long been earmarked as a potential driver of growth. Furthermore, both raw and processed agricultural…
Trinidad and Tobago’s commodity-fuelled growth throughout the second half of the 20th century resulted in agriculture becoming moderately less economically important. As the energy sector gradually grew in prominence, Trinbagonians gravitated away from traditional farming jobs and towards more highly skilled professions. This led to a downturn in the production of traditional crops, despite the country’s…
The twin-island nation of Trinidad and Tobago is located in the southern end of the Caribbean, just off the coast of Venezuela. Its rich and varied heritage lends itself to a vibrant society and cuisine derived from an array of ethnicities and religions. On the back of elevated global oil prices, T&T has gone through a period of rapid economic expansion in recent decades, resulting in higher leve
Agriculture still lags behind other sectors and continues to be overshadowed by the energy-driven economy. However, strides have been taken in the areas of training and farm development. The dip in energy prices leading to the 2015 recession emphasised that economic diversification is paramount to the stability of the Trinidad and Tobago economy. Moreover, the high produce import bill needed to sustain…
In this Global Platform video, Salvador Sánchez, lead partner of agri-business industry, Deloitte México, and Juan José López Forastier, lead partner of agri-business industry, Deloitte Argentina, talk about the importance of global agriculture and the effect of agri-business on the environment. Latin America has a number of competitive advantages in the agri-food sector, such as location, beneficial
Interview:Joe Pires How can agriculture be harnessed to drive growth? JOE PIRES: The sector currently has an almost negligible impact on the economy in general, representing around 0.4% of our national GDP. I think the main obstacle to transforming agriculture into a driver of economic growth is the belief that hydrocarbons will be never-ending manna from heaven for Trinidad and Tobago. This…
The government of Trinidad and Tobago has targeted the agriculture sector for economic diversification in the coming years, with a raft of planned investments and agriculture promotion programmes. Expected benefits include greater food security, increased export revenue, and a reduction of funds spent on food imports. However, the industry has been traditionally overlooked within the local…
Optimism is returning after years of recession, despite the fourth quarter of 2017 seeing real economic activity contract by 1.2% year-on-year and the IMF putting growth for the whole year at -2.6%. The organisation forecasts expansion of 1% in 2018 and 0.9% in 2019, with the government now having the opportunity to shift their focus from tackling short-term economic problems to implementing long-
