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Govt. plans to invest US$175M in Black belly sheep
Kaieteur News – President Irfaan Ali has announced that his government is currently in discussion with Barbados to invest some US$175M in Black belly Sheep with the hope of making US$43M in annual returns.
President Mohamed Irfaan Ali speaking at last Sunday’s press conference
This initiative, according to Ali, is aimed at reducing Caricom’s importation of mutton, lamb and other Sheep meat into the region. Ali said, “…we are going to work closely with Barbados, there is already major discussions going on with Barbados…”
President Ali said the Region has spent some US$48M in 2019 to import 7900 tons of mutton, lamb and other meat products from sheep. To reduce the importation of sheep products, Ali wants to up the local production in five years to above 7000 tons but for this to happen a huge investment will have to be made. “So here in Guyana we are working on an agenda with Barbados to take up our production because we will have to build up the capacity in five years to just over 7000 tons in terms of mutton and lamb, the meat and the products.
A few Black belly sheep grazing on a farm
This will require a capital investment of US$175M, about 25,000 hectares of land but expected returns annually will be US$43M US annually and some 4500 direct and indirect jobs”. Although the President is confident that money will be made from the investment, industry experts noted that considerations must be taken because market can change based on demand and other factors.
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