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News Date: May 11 2016

In order to encourage greater investment in the conch subsector, Agriculture Minister Karl Samuda says there will be a reduction in the cess on local conch from US$0.75 cents to US$0.50 cents per pound, this year.

Samuda, who made the disclosure at a press conference on Friday, says the decision arose out of discussions with Ministry officials.

He further advised that come 2017,“we are going to make sure that the level of investment put into industries, whether conch or citrus or any other form of business activity, will weigh heavily on the degree to which an allocation for quotas are fulfilled.”

Samuda assured food suppliers that if they are able to satisfy 75 per cent of the Caribbean Community’s (CARICOM) demand, then a case can be made for their products to enter that market duty free.

News Source: The Daily Observer

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Post Author: Nelzine Brown

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