– prices up by more than 75 per cent

Farmers in the country’s coconut industry are currently benefiting from significantly increased prices, resulting from the availability of more lucrative markets in some Caribbean territories, according to New Guyana Marketing Corporation General Manager Nizam Hassan.

Accelerated regional demand for dried coconuts, particularly in the Dominican Republic have resulted in a more than 75 per cent increase in the price from around $8 each to $26 each and the New GMC is seeking to support the industry in its quest to maximize export earnings, Hassan told Stabroek Business.

While the Dominican Republic continues to be the single largest importer of local coconuts, Dominica, Trinidad and Tobago and Canada also import coconuts from Guyana.

More than 60 per cent of the coconuts grown in Guyana are cultivated in the Pomeroon area while Regions Four, Five and Six produce smaller quantities.

Hassan said the New GMC has realized some measure of success in putting coconut farmers and buyers together as part of its business development programme and the service had included “support and advice” in the area of pricing. Between January 2008 and April this year export prices for coconuts have almost trebled, from $1,000 per tonne to $2,900 per tonne. During the same period the volume of coconut exports increased from 57 tonnes in January 2008 to 758 tonnes in April this year. Since November 2009, the volume of coconut exports has consistently been in excess of 500 tonnes and in April this year exports reached 758 tonnes the highest for the January 2008 to April 2010 period.

Meanwhile, the April 2010 report on the operations of the New GMC’s Pack Houses at Sophia and Parika indicate that so far this year the two facilities have handled more than 600,000 kilogrammes (kg) of local agricultural produce. This includes 220,072 kg of watermelons, 218,089 kg of pumpkins, 45,461 kg of plantains, 56,135 kg of limes and 27,005 kg of pineapples.