Investors Seeking Opportunities in Spice Sector Urged to Explore Production of Ginger, Turmeric and Pimento

Investors looking for an opportunity to join the growing multibillion-dollar global spice sector are being encouraged to explore the local production of ginger, turmeric and pimento.

Chief of Party for the Food for Progress Jamaica Spices (JaSpice) Project, Dr. Ronald Blake, said that ginger and turmeric are largely used in both nutraceuticals and pharmaceuticals.

“For all three crops, what the business model is saying is that they are lucrative. Also, the demand for these two spices will continue to grow significantly. We are also probably one of the larger producers of pimento. It’s a good way to make use of lands that you know you may not readily want to use for other things,” he said, in a recent interview with JIS News.

The five-year JaSpice Project, which was launched in 2023, will focus on increasing yields of turmeric, ginger and pimento, to supply the existing export and domestic demand for the spices.

Dr. Blake is encouraging persons to participate in spice production to help revitalise the local sector.

“I think it allows for just about anybody to participate. We encourage women, youth, persons who are challenged, indigenous people and investors. We encourage everyone to take advantage of this opportunity. The earlier you get into any good business the more there is to gain from it. If you really want to make a good investment in 2024-2025, the spices sector provides tremendous opportunity,” he said.

Being implemented by international non-profit Agricultural Cooperative Development International/Volunteers in Overseas Cooperative Assistance (ACDI/VOCA), the JaSpice Project is expected to impact more than 7,500 farmers and stakeholders, including women, youth, and other marginalised groups.

With the use of climate-resilient farming systems, improved planting material and management practices on 2,250 hectares of land, the project is expected to sustainably increase yields by 50 per cent.

The project will contribute to the main objectives of increasing agricultural productivity for spice producers and expanding trade through improved relationships with value-chain actors.

To be implemented islandwide, the project should impact processors, representatives of farmers groups, service providers, large buyers, exporters, input dealers of varying sizes, financial institutions and government agencies.

The Project also relies on ACDI/VOCA’s established partnerships with key public-sector stakeholders.

These include the Jamaica Agricultural Commodities Regulatory Authority (JACRA), Ministry of Agriculture, Fisheries and Mining, Rural Agricultural Development Authority (RADA), and Jamaica Promotions Corporation (JAMPRO).