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Government on Wednesday commissioned a new coconut seedling nursery in Hosororo Village, Barima – Waini (Region One).
The nursery, which is located in the National Agriculture Research and Extension Institute’s (NAREI) compound, was constructed and stocked at a cost of $4.3 million. At full capacity, the nursery will be able to produce some 206,000 seedlings annually.
In addition to the nursery, Minister of Agriculture, Zulfikar Mustapha, also commissioned several new pieces of equipment for NAREI’s spice processing facility. These pieces of equipment, which include a ginger washer, ginger slicer, ginger grinder, and a vibro sifter, were procured at a cost of $9,747,756.
According to the Global Coconut Products Market this product which was valued at USD 4,102.9 million in 2021 is projected to reach USD 7,184.2 million in 2027. Latest market Transparency Market Research said coconut products are set to witness rapid growth during 2021-2031.
Coconut product is produced in water, oil, milk, dried coconut products, copra, meat, among others, and in liquid solid and powder forms. The product is used in industries such as food & beverage industry, confectionery food products, convenience food products, bakery products, cosmetics, among others.
Further, the minister said that the government through the New Guyana Marketing Corporation has been successful in finding markets for farmers in other remote parts of the country.
CARDI’s Representative in Guyana, Mr. Juman Kundun, noted that the demand for coconut is constantly increasing in the region and globally. Furthermore, the CARDI Head said that Guyana is among three of the major coconut-producing countries in the region; producing some 20 per cent of the region’s demand while the Dominican Republic produces some 59 per cent, and Jamaica some 12 per cent.
