Overview

Small ruminants are significantly consumed globally, with demand expected to rise.

Goat Meat is in high in demand across CARICOM and around the world. The 2022 global value of trade was approximately US$9,696,043,000, and the CARICOM demand is approximately US $44 Million.

Jamaica has a significant market for chevon (goat meat), with local production not meeting consumption demands. This gap indicates a robust market opportunity.

Jamaica's current scenario reveals a substantial reliance on imported meat, accounting for 60 to 70 percent of the nation's consumption. Approximately 39,757 (487,932 kgs or 1,073,450 lbs) goats are being slaughtered annually, however, to satisfy the assumed annual consumption of 3,323,094kg (7,301,807lb) of chevon per year, a total of 270,437 goats will be needed.

Common breeds for meat production include Boer, Nubian, and Kiko goats, each with specific weight and growth characteristics beneficial for farming.

Initial investment for a commercially sustainable operation involves purchasing breeding animals, with costs detailed for bucks and does.

Value Added Products

Dairy goat farming offers additional revenue streams through products like:

• Goat Milk
• Goat Cheese
• Goat Milk Soap
• Canned Manish Water

An initial investment of $3,070,000 in live animals (bucks and does) can lead to a profit of $2,555,000 in the first year.

Government Support for Small Ruminants

• Artificial insemination and embryo transfer
• Financial incentives, including GCT waiver for the importation of live animals
• Establishment of fodder banks
• Feed Pelletizer to produce feed locally
• Market development support
• Extension and training services

Overview

• The Agro-Park initiative integrates all facets of the agricultural value chain from pre-production, production, post-harvesting to marketing. We continue to build out our agro-parks with infrastructure and technological adaptation.
• The Agro-Invest Cooperation manages 7,778 acres of arable land for lease to investors. This includes 10 Agro Production zones and 8 Agro Parks. These provide an opportunity for the diaspora to invest in high-value orchard and cash crops for both local consumption and export markets.
• Two new Agro-parks have been established - Amity-Bridge Pen in St. Catherine and Parnassus in Clarendon to provide an additional 1900 acres (795 hectares) of fertile irrigated land. Matching Grant financing to support sustainable and profitable farming practices in the amounts of $150,000 to JMD $500,000 will be available through these new agro-parks.
• The Agro-Investment Corporation (AIC) has also dedicated approximately 200 acres of prime lands with approximately 150 water acres for the development of an aquaculture park in Amity Hall, St. Catherine.
• We are encouraging investors to invest on our agro-parks. Applications are open for these two Agro Parks, as of June 1.

Investment Opportunities In Mining

Accounting for approximately 1.1% of GDP in 2022, the mining industry is the backbone of our traditional exports, contributing over 80% of their value and generating upwards of US$325 million from exports and inflows.

Investment Opportunities are available in:

• Mineral exploration
• Limestone quarrying for coastal defense
• Quarrying hard volcanic rocks
• Production of very fine sand
• Clay for pottery and related activities
• Cutting and polishing local marble
• Private sector investment in port development

Port Development and Expansion

The port development and expansion project is being undertaken to expand the loading capacity of the Reynolds Pier to 8 million metric tonnes per year and will cause our pier to be a multi-faceted port, that can dually berth Panamax Vessels that export industrial material as well as the new large cruise vessels. Investment in port development allows for the efficient transportation and export of industrial minerals, tapping into global markets and increasing revenue streams. A modernized port system enhances Jamaica's position in the global market by enabling timely delivery of minerals, meeting customer demands, and competing effectively with other exporting nations. We have already begun to engage on conversations with private interest and the Port Authority of Jamaica to explore possible locations for a new port or to extend existing ones. We are seeking investors.

Limestone Quarrying

As the global demand for construction materials continues to surge, particularly in emerging markets, Jamaica stands as a prosperous opportunity with its abundant limestone resources. Jamaica has high quality limestone deposits that can be used for diverse applications, ranging from construction aggregates to agricultural supplements and industrial uses. There is potential for growth in both domestic consumption and export markets, positioning investors to capitalize on a developing sector with a strong foundation for expansion.

Incentives for Investors

• Mineral-rich economic zones with favourable regulations, tax breaks, and infrastructure to enhance investment opportunities.
• Robust support from investment promotion agencies will boost confidence and drive foreign investment in our industrial minerals.
• Public private partnerships opportunities that leverage government resources, share risks, and foster sustainable growth in infrastructure, research, and skills training
• Export promotion support to expand markets and global competitiveness
• Environmental stewardship incentives incentivizing ecofriendly practices in mining to align with Jamaica's conservation goals and attracts environmentally conscious investors.
• Under Section 5 (1) of the Bauxite and Alumina Industries (Encouragement) Act, miners have access to incentives such as concessions on fuel imports for equipment, prescribed vehicles and equipment used in the winning of Bauxite and Alumina.
• Miners involved in pharmaceutical limestone and beach sand quarrying benefit from PIR through Ministry of Industry, Investment and Commerce (MIIC) to include waivers on equipment, additional stamp duty and corporate income tax.
• GCT deferment is also an incentive accessible to miners that intend to expand.

OPPORTUNITIES FOR PUBLIC PRIVATE PARTNERSHIP

There are numerous opportunities for Public-Private Partnerships in developing agricultural infrastructure, including irrigation systems, storage facilities, and processing plants. We are, therefore, calling for investments to:

• upgrade and expand core infrastructure.
• expand and upgrade airport and seaport facilities.
• improve access to global logistics and value-add manufacturing networks, including development of logistics parks, distribution centres, and technology hubs.
• Develop a robust, affordable network of storage facilities, strategically located to support distribution, effective management of the net food reserves and exports.

OPPORTUNITIES FOR BUSINESS SUPPORT SERVICES

• exports coordination of throughput and logistics for seamless trade flows.
• travel and logistics services.
• affordable implements and technologies to improve efficiency.

FINANCING IN AGRICULTURE, FISHERIES AND MINING

The agriculture sector requires significant investments for its growth and expansion, and we continue to call for greater levels of investment in the sectors especially due to the potential for great returns.

We are also calling upon our financial institutions to make available larger sums of money at more attractive terms and conditions so as to invigorate capital input. The sector needs at least JM$50 billion annually in concessional loans and grants for continuous engagement and expansion.

The Ministry will be working closely with the Ministry of Finance and the Public Service to establish an Agriculture Development Fund through the amalgamation of current contributions and future projects. This Fund, similar to the Tourism Enhancement Fund, will be used to support and infuse capital into the sector for development purposes.

We want to thank all our international and local partners for their continuous support.

The Government provides the following incentives to boost productivity and efficiency:

1. Production Input Relief (PIR) - Waiver of applicable duties and taxes on certain tools and equipment imported for use in primary production/approved farming activity/activities. This applies to all sectors.


2. 20% Duty Concession on vehicles for use in agriculture.


3. Income Tax Relief - an incentive to off-set losses incurred on the farm against the profits gained in another owned enterprise.


4. Waiver of Additional Stamp Duty (ASD) on select agricultural raw materials.


5. Subsidized costs for health certificates, fumigation, hot water treatment and other SPS certifications applicable to exportation of plant-based products under the Plant Quarantine Produce Inspection Trade Facilitation Support Programme.