Demand for local farm produce presently exceeds supply. The Caicos Islands in particular have good fertile soil and an ideal climate. These facts clearly indicate that agricultural investment could produce good returns in the short and longer term.
agriculture
Agricultural production is relatively small within the Turks and Caicos Islands. However In recent years there has been a visible and a growing interest in local cuisine along with a global trend for organic
and tropical foods which has led
to a subsequent demand for
local produce.
The demand has also increased for home-grown products in line with the development of hotels, restaurants, private homes and villas across the islands in general and in Providenciales in particular. Nearly 200,000 annual visitors and 25,000 residents represent a captive market of diners and shoppers seeking fresh, tropical and exotic fruits and vegetables to agricultural investors.
Farming tends to be small and designed for local consumption. However history does show that crops can grow successfully with the help of very fertile soil on the
Caicos Islands.
Significant amounts of agricultural land exist on North Caicos and Middle Caicos and could support new farms producing higher value added crops.
Agricultural technology has been used by Island Produce which operates a hydroponic plant in Providenciales. The plant produces fruits and vegetables to serve some of the local restaurant trade and its produce is also sold at the main supermarkets which are used by tourists and residents across the Turks and Caicos Islands.
Policy Highlight
The Turks and Caicos Government can consider allowing investors in approved import and export projects to receive long term duty remissions on both the imported inputs and the resultant export product.
The Government is committed to seeing the Islands used to enhance the living standards of Belongers by providing crown land for commercial and residential development. All development must encourage Belonger participation in the economy, benefit the Belonger population, facilitate development in the Islands and enhance the community.
