How food security is our life and business

Food insecurity is “the state of being without reliable access to a sufficient quantity of affordable, nutritious food.” Current global events seem to be conspiring to highlight the shakiness of our food security.

A March 2022 blog by the Ministry of Trade and Industry notes that TT’s food import bill is over TT$5 billion annually, while the region reportedly imports around US$6 billion each year. Further, a study undertaken by Caricom identified that some 40 per cent (or 2.8 million people) in the English-speaking Caribbean are food insecure.

TT has a very rich variety of locally grown fruits and vegetables. Unfortunately, our agricultural sector and related industries have not enjoyed the respect they deserve and have virtually collapsed over the decades. Where we once had thriving industries with export capacity, for example, copra and citrus, our manufacturers must now rely on imported inputs. The 2018 budget stated, “in 2003, the contribution of the agricultural sector to the Gross Domestic Product dipped below 1.0 per cent and has languished at below 0.5 percent of GDP since 2012.” Despite now, in the quest to increase earnings from our non-energy sector, the agri-sector is quite promising.

Assessing global circumstances, the European Commission adopted yesterday a proposal to mobilise €600 million from the reserves of the European Development Fund to address the current food security crisis aggravated by Russia's invasion of Ukraine. These funds will support African, Caribbean and Pacific (ACP) countries to cope with the dire situation, through humanitarian assistance (€150 million), sustainable production and resilience of food systems (€350 million) and macro-economic support (€100 million). This provides funding opportunities to support the region’s strategies to expand the focus on agriculture.

Regional cooperation at both the state and private sector levels is critical to make this push by forming strategic trading partnerships. Consider this: Guyana, with its ample land availability is well-poised to be the breadbasket of Caricom, and can help supply inputs to manufacturing operations. This will also help to deal with supply chain issues for distributors and provide our regional consumers with quality regional products, which can be supplied to our local consumers through the Supermarkets Association of TT. TT is well-placed to offer technical expertise to Guyana’s burgeoning energy industry thereby keeping the wealth generated in the region to professionals from the region.

One of the most positive developments is the application of technology to agro industries which is offering new hope, despite the consequences of human development. This is particularly so in our region, which is grappling with the effects of climate change, threats to marine life, pollution, managing water and energy consumption, and soil depletion, to name a few. Smart technology can be used for data collection to aid decision-making, applied to achieving sustainable farming and production methods and producing high yields in small spaces. This augurs well for reliable supplies and scaling of production for both local and export consumption. As we continue to respond to challenges with supply chain and forex, it will be necessary to look to import substitution, and finding ways to encourage and support local production. The upcoming food and agri expo, with its theme of "Our Life, Our Business” is truly timely and reflective of what we must take on in the years ahead.

The above article is based on remarks delivered by Chamber president Charles Pashley on June 22, at the media launch of the Agriculture and Food Expo – Our Life, Our Business, hosted by Southex Trade Shows and Promotions, in partnership with the Georgetown Chamber of Commerce and Industry, the Supermarkets Association of TT, the Agricultural Society of TT and the TT Chamber of Industry and Commerce.