Ways to revive TT’s cocoa industry

THE EDITOR: The cultivation of cocoa which was once an industry that sustained the economy of the island and which was considered to be of a high quality is now in a state of inertia as it is with coffee and to some extent sugar.

This phenomenon is principally due to the paradigm shift to an energy based economy and other forms of industrial and commercial activities. The question is how can these neglected areas of stagnation be revived so as to create employment and further boost the economy, and what incentives and schemes could be offered to encourage a rebirth in the production of these crops? One suggestion that comes to mind is for the Government to purchase abandoned estates and those that are now not properly managed because of a number of valid reasons, for example, insufficient injection of capital, labour costs, transportation woes, and so on. These factors have caused a migratory pattern of former agriculturists and planters who have now become an endangered species.

The State must now embark on an extensive programme which will facilitate families and individuals who are citizens willing to occupy these land holdings and get involved in developing the industry, legislate a term lease which will provide some security of tenure, give soft loans with a moratorium on accumulated interest for the first five years, no tax on chemicals and agricultural supplies, and a guarantee that the harvested produce would be bought by a State operated marketing agency at a price which will ensure a profit. How then will this plan become achievable? Bear in mind that capital funding will be needed to finance this venture without being dependent on the Treasury.

A suggestion which comes to mind and appears feasible in the circumstances is for the Government to examine the real estate market that has increased over the years to a point where it is beyond the reach of the average citizen to own a property and compare the land rent in relation to the price of land. The disparity that exists must be recognised, for example, a property in some districts may be valued at a market price of say $300,000 but the land rent payable may be as little as one hundred dollars a year or 36 cents a day.

This situation is even more glaring when one considers a property worth well over a million dollars paying land taxes of three hundred dollars, and parked in the garage are vehicles worth half the price of the house and the Scotch consumed in a day is almost the same price as the yearly rent, of course garbage collection and postal delivery are gratis. This situation ought to be revisited, so that the proceeds of increased taxes of at least one hundred percent on existing rates could be (or more in some cases according to a sliding scale) utilised in the capital financing for this initiative. It is time, given the conditions of the day, that opportunities must be created for the benefit of all the people, ultimately leading up to a developed, civilised, equitable nation by the year 2020.

FIDEL GONZALEZ
Westmoorings