Cabinet approves $2.7M food plan

This is why the Food and Beverage Sector $2.7 million Strategic Development Plan has received Cabinet approval and funding to implement significant development strategies designed to make the industry globally competitive. The plan was derived from the input of industry stakeholders and the Cabinet approved draft was presented to them by Trade and Industry Minister Ken Valley and a team of ministry technical officers.

According to Valley, as part of the overall economic diversification strategy, Government has targeted the aggressive development of certain non-energy sectors in which the country enjoys traditional advantages, holds a substantial resource base, or has the potential for competitive advantage in the international trading environment. Given that the food and beverage sector met the criteria, it was selected along with six other key industry areas — fish and fish processing, music and entertainment, film, printing and packaging, yachting and merchant marine.

The minister indicated that Government’s focus on diversification of the economy, in particular the non-energy sector of Trinidad and Tobago, is driven by the fact that energy resources, which today are the lifeblood of the economy, are finite in nature and, at the same time, provide the country with the resources to drive the growth of more sustainable sectors.

The minister said the country must develop a significant and competitive non-energy sector for the generation of jobs, and to support sustained economic growth over the long-term.

Tim Nafziger, chairman of the Food and Beverage Industry Development Committee and team leader for the strategic plan development project, indicated that the plan had been developed through the input of industry operators, governmental agencies, other major stakeholders and consultation with food sector specialists from abroad. The final document was informed by global and regional industry trends, research on best practices, and the current state of the industry, Nafziger said.

In terms of major recommendations, the strategic plan has proposed certain critical steps, including the formation of the Food and Beverage Industry Development Committee to oversee implementation. The food and beverage industry can boast of internationally recognised players such as SM Jaleel, Bermudez, National Canners, Kiss Baking Industries, Fernandes Distillers and KC Confectionary.

The other end of the spectrum features small scale enterprises such as juice processors, seasoning and condiment manufacturers, and nuts and channa bottlers which function primarily within the local or regional marketplace.