Agriculture Ministry Allocated $21.25 Billion for 2023/24 Fiscal Year

The Ministry of Agriculture and Fisheries has been allocated $21.25 billion to undertake activities for the 2023/24 fiscal year.

This represents a 19 per cent increase or $3.39 billion more than the previous year.

Portfolio Minister, Hon. Pearnel Charles Jr. made the disclosure during a meeting of the Standing Finance Committee of the House of Representatives at Gordon House on March 1.

He informed that the sector achieved a 9.9 per cent increase in domestic production from 770,456 tonnes in 2021 to 846,508 tonnes in 2022, representing a culmination of seven consecutive quarters of growth in the sector.

“What is taking place with Essex Valley, Southern Plains Agricultural Development (SPAD), Pedro Plains, and others, will be the largest investment in agriculture ever, to put not just drip irrigation but (also) sustainable systems towards our highest production potential. That is going to see us moving towards doubling of production in our country and achieving the goals that we want,” Minister Charles Jr. said.

Regarding the drought, he noted that the approach towards mitigating the negative consequences and other climate change issues, did not start this year.

“We have had consecutive bolstered approach to building resilience in the sector and that has seen us expanding the support to farmers in terms of black tanks, catchment tanks and rehabilitation of ponds across the country, and the same goes for this year,” Mr. Charles Jr. said.

He informed that the Ministry has already expended $90 million to assist farmers, and that the intention is “to expend more than $100 million in terms of support in varying categories”.