With a resurgence in the demand for coconut products globally, and consequent interest from investors, Guyana is anticipated to double its current coconut production within a few years, and quadruple it by 2025.
Raymond Trotz, National Coordinator of the International Trade Centre (ITC), during a press briefing at the Agriculture Ministry yesterday, related that according to data from the National Agricultural Research and Extension Institute (NAREI), there are currently over 25,000 acres of coconut trees within Guyana. He stated that advice from GO-Invest indicates that investors are interested in expanding that number by about 27 and a half thousand acres over a number of years, and based on their projection, to about 100,000 acres over a ten-year period, as compared to the 2015 figure of 24,000 acres.
Trotz stated that the renewal of interest for coconut products has led to investor interest locally, although he opined that the attraction could also be attributed to the success of the 2016 coconut festival, which he described as “awakening the sleeping giant.”