Investment needed to make coconut industry viable – Doerga

Newly appointed President of the Georgetown Chamber of Commerce and Industry (GCCI), Vishnu Doerga, has stated that more investment is needed in order to make the coconut industry viable once again.

According to the GCCI President, based on recent statistics, the coconut industry in Guyana has the potential to be the country’s third largest export. However, he noted that in order for Guyana to start reaping the benefits from such an industry, there needs to be adequate investment.
“If you look at the level of skills we have developed in the rice industry, where you continuously have better grains of rice being developed with higher productivity. We need that similar type of investment in the coconut industry if we are to really make it successful,” he stated.
The businessman further added that “we are in a situation where people are realising the health benefits of coconut and coconut products. This is something that Guyana could take advantage of and capitalise on if we have a coherent strategy,” he noted.
However, the GCCI President explained that while coconuts can be profitable, it does not come without risk. Doerga pointed out that coconuts are prone to diseases, and as such, necessary precautions need to be taken to tackle the diseases.
“We are currently battling such diseases so if we are to really turn this into a viable industry where people can really get the benefit from participating in the coconut industry. We also need to make sure that our research and development and our pest control services are able to really minimise the threat to that industry because it’s a type of industry that can be easily decimated by various pests,” Doerga outlined.
Nevertheless, the GCCI President said he is looking forward to the upcoming coconut expo with hopes of it highlighting the opportunities available so that persons can be aware and maybe invest in that area.
Of recent, there has been a renewed drive to resuscitate the coconut industry in Guyana to make it once again vibrant, as the country’s coconut has been in vast demand, especially on the international market. Guyana’s coconuts is said to be the best mostly because of its quality, as it contains one of the thickest kernels in the world.
The coconut industry in Guyana has been identified as one of the sectors with huge potential for further development. Coconut delivers a wide variety of products, including coconut water, coconut oil, coconut milk and dried coconut, which are all in demand regionally and internationally.
In 2011, the local coconut industry earned hundreds of millions of dollars, producing over 92 million coconuts annually. At the time, coconut was said to be the third leading export product, behind sugar and rice.
Guyana, at the beginning of 2013 had produced between 90 and 100 million coconuts per year, which approximates to some 70,000 tonnes and the world export market for coconut products then was about US$6 billion, while Guyana exports nearly US$3 million in coconut products.