More than $ 70M was budgeted to expand the coconut industry
Coconut seedlings at Hope Estate nursery.
Kaieteur News – The Government has proposed an allocation of over $ 70 million in the 2021 National Budget to further promote and expand the services provided at Hope Coconut Industries Limited (HCIL), East Coast Demerara.
The Senior Minister in the Office of the President with Responsibility for Finance, Ashni Singh, made this announcement during his presentation on Friday. The Minister said that coconut is the new frontier crop in the agriculture sector and is expected to start over the medium term. “This administration will fund the establishment of four new coconut nurseries at Wakenaam, Leguan, Canal No. 2 and No. 63 Village in Corentyne, each producing 1,500 to 3,000 coconut seedlings, every three months,” he said.
General Manager of Hope Estate, Mr. Ricky Roopchand.
This will enable farmers to benefit from high quality planting material at an affordable cost.
“Technical training on intercropping and cultivation will be provided to coconut farmers to help them maximize returns on investments. Government support will see the private sector invest in over 1,000 acres of coconut estates, in the near term, ”the Minister added.
Speaking to DPI, General Manager of Hope Estate, Mr. Ricky Roopchand, said he was pleased with the allocation, noting that it was a significant increase from the previous allotments when the estate received a fixed amount of $ 3 million.
The amount for the capital project would be used to fund four additional coconut nurseries, purchase a Canter tractor and truck, build two sheltered houses and fence the compound, he said.
Other allocations would be used for the National Coconut Sensitization Program and other operating costs of the entity.
Over $ 10 million was approved for the estate in the 2020 Emergency Budget for capital works, which was used to establish two coconut nurseries at Kairuni and Charity, build a wooden bridge and extension and equipment for the estate office.
Hope’s Coconut Estate produces 100,000 coconut seedlings for farms nationwide annually, to promote the development of the coconut industry.
Minister of Agriculture, Hon. Zulfikar Mustapha, has said that developing the coconut industry in Guyana is a priority, and as such, much focus has been given to reviving the industry, which is the third largest export crop after rice and sugar. (DPI)