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Value added investment may rescue Wakenaam Plantain industry.
The island of Wakenaam, located in the estuary of the Essequibo River, has grown quite popular for its fine quality of plantains. Most farmers have dedicated acres of land exclusively for the production of plantain.
“Plantains from Wakenaam being transported off the island for sale.”
As of recent, however, there have been reports of the local industry struggling, primarily due to the inadequacy of markets, and a sustainable market price.
One farmer told this publication, “We have a lot of plantain right now but the price is down at the moment for the last six weeks… Plantain has been keeping the economic flow, along with coconuts to substitute for the rice at the moment.”
Based on reports, some farmers have in excess of forty to fifty acres of plantain. It is believed that one farmer has over 250 acres of plantain, allegedly the largest farm in the country.
Wakenaam is a small island with a significantly small population. Most of the plantains produced therefore leaves the island.
Kaieteur News understands that the price per pound of plantain is usually $60 to $70. Over the past few months, the prices have been unstable between $30 and $50. In other words, if a farmer once earned, $1800 on a bunch of plantains, he now earns roughly $900.
Chairman of the island’s Neighbourhood Democratic Council [NDC], Mr. Sheik Ahmad, explained that there is an oversupply of plantains on the island, but the people’s spending power, he claims, is down. Pointing to an alternative he said, “An export market or the factory on the island will be a plus. Barbados used to buy a lot of plantains from Wakenaam.”
A number of farmers are confident that interest in value added product may very well aid in reducing the oversupply. This publication understands that a factory was constructed on the island in 2014. The island will serve to produce value added products from plantains.
The NDC Chairman said, “If they kick start the factory, at least plantain can be at a stable price, let’s say at $60 at least that will keep it at that price… The factory was to produce chips and fruit juice.
The building was there since in 2014. Every time we speak with the Ministry, all we get are promises that this factory will be commissioned but to date nothing has happened.”
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