TRADE and Industry Minister Paula Gopee-Scoon said Angostura Holdings Ltd has met and surpassed its initial projected reach in the global beverage market.
Speaking at the Angostura Champions Award ceremony on Saturday evening, Gopee-Scoon said during the period January to November, Angostura bitters alone accounted for $179 million worth of exports or 85 per cent of the company's total exported products.
In addition to the cocoa bitters launched only in July, Angostura has further diversified its product line with White Oak Watermelon and Sorrel flavoured rums.
“These additions to the Angostura product line which were a result of technological advancements, product diversification and strategic maximising of opportunities has enabled the company to successfully export quality TT products to over 170 markets worldwide," Gopee-Scoon said.
At the function, where Elizabeth Aleong was named Angostura Champion of 2020 for her work with special needs children, Gopee-Scoon said despite the slowdown in the global economy, Angostura continued to prove itself as a prominent world leader in the beverage industry.
She said its reach now extends to emerging rum markets in Asia specifically Thailand, Vietnam and Taiwan as well as in Africa namely, Ghana, Tanzania, Kenya and Zanzibar, creating viable new opportunities for the company despite the disruptions caused by the pandemic.
“Angostura has significantly contributed to our economic landscape in the non-energy manufacturing sector,” she said, highlighting that for the period ending November, Angostura exported TT$211 million worth of products with the company's signature product - its aromatic bitters continuing to be much sought after around the world.
Chairman Terrence Bharath said the new cocoa bitters can now be found at 1,200 Walmart stores in the US and also in e-commerce and Amazon UK. Bharath said the company has expanded its reach into 170 countries.
Describing Angostura as a champion, he recalled that in the midst of covid19 being declared a pandemic earlier in the year, the company without hesitation, manufactured and distributed 700,000 bottles of hand sanitisers. The company also partnered with the Ministry of Education to donate 55 laptops to students in need of devices to access online learning.
He said the Champions Award was created to show the company’s respect and admiration for people doing great work in their respective communities and nationally.
Aleong was among five finalists selected from hundreds of nominees. She received a trophy and a $50,000 award towards her organisation which focuses on nurturing differently-abled children.
The other finalists were Valdeen Shears, a domestic violence survivor, Anushka Teelucksingh who was able to inspire the donation of 1,200 units of blood to the Blood Bank, Shivam Teelucksingh who has helped children and their parents become IT savvy with the push to online learning, and Kenneth Listhrop who works with children to enhance their musical abilities.