The Tribune

By EARYEL BOWLEG

Tribune Staff Reporter

ebowleg@tribunemedia.net

COMPANIES in the agriculture industry said inflation has impacted them, with one business stating that in some cases prices have increased fivefold.

The companies gave remarks at a press conference that gave an update on the recently launched Sustainable Food Growth Grant and the launch of a new pilot programme aimed at climate change technology.

Johnelle Lewis works with the technology company Vnet Multi-Enterprise.

“So collectively, our experiences over 25 years in this field, and watching the prices increase on simple items that, for example, used to be like $20, maybe now it’s like $60 to $80. In some cases, things have gone up to over $100 and it’s ridiculous. So inflation has played a major role in increasing the cost,” she said.

“So that’s why I said this is so timely, because now we can actually source these items in bulk, which helps to reduce the cost of bringing them in, so that the raw materials and the hardware that we need to actually manufacture our devices, so that we can actually produce them at a better rate.”

According to Lance Pinder of Abaco Big Bird poultry farm, inflation has been a big problem over the last year or two. Big Bird was five percent of the domestic consumption of chickens in the country before Hurricane Dorian.

The poultry farm has been in business for 27 years.

“There’s nothing that we buy that hasn’t gone up anywhere from 50 to 200 percent - So that’s why these grants, especially something like solar, which will be a long-term benefit, our company will help with all of those problems… You buy something this month, next month it’s up again. We’re used to seeing costs increase, maybe three years would go by but now it’s like a monthly thing.”

Mr Pinder noted the company intends to use this funding to help with solar to cut down on energy costs which would reduce prices and also for the business.

“At this time, we’re still rebuilding from the storm and the impacts of COVID. So it’s going to free up cash flow that will help us put that back into growing and expanding the company going forward into the future and we appreciate it very much,” he explained.

Shomekhan Cargill and his team at Well Mudda Fungus grow organic mushrooms. “Like my colleagues said, things are going up rapidly and one of the major issues that we’re facing is meeting the (arranged) prices based on our profit margins with the agreements that we have with our current customers,” he said.

“So, to continue especially as a new business or small-scale business trying constantly having to tell your customers that (there) may be shifts in prices and packaging and simple things that you would not expect to be such a major issue.

“It causes disruptions and causes issues and not only just inflation, but there has been a lot of challenges with even the shipping situation has been rough. So, all of these things impact our ability to be resilient to change, to shock. So, the grant allows us to free up some cash flow in order for us to buffer these changes at least for the short term and hope that prices go back down in certain areas so that we can kind of maintain a balance in our cost of production.”

Agriculture, Marine Resources and Family Island Affairs Minister Clay Sweeting introduced the pilot programme that will further incentivise farmers and food producers to not only use climate smart technology but will also assist The Bahamas in significantly boosting the country’s food production.

In his remarks, he explained: “Climate smart technology has been utilised in countries around the world for many years now. External pressures such as drought, inflation, disease, pestilence, the pandemic, and now even wars have brought the use of technology to the forefront of agriculture.

“Farmers are discovering new and innovative ways to boost their efforts such as climate smart seeds, other planting materials that can thrive under extreme weather conditions, solar and wind energy technologies, and hydroponics that increase efficiency and food production. By using technology, we can increase our resilience against climate change, and increase our capacity and our domestic food production. Today, we are recognised individuals who are looking to achieve that goal through the Sustainable Food Growth Grant, which was oversubscribed at its deadline on October 7.

“These individuals recognise the government’s vision to use innovation to reduce operational costs while increasing productivity. It should be noted that these applicants through the partnership with SBDC Access Accelerator will be receiving funding from a separate grant programme that we hope to become an annual programme to encourage innovation, encourage technology and encourage new ways of farming in this country. While the adjudicators have not completed the processing of all the applicants, pulling these five businesses means that more businesses can receive grant funding through the Sustainable Food Growth Grant.”