NASSAU, BAHAMAS — Minister of Agriculture and Marine Resources Michael Pintard said The Bahamas has the wherewithal to reduce its $1 billion price tag on food imports by hundred of millions of dollars in the short to medium term.
According, this is possible as The Bahamas has the ability to produce many of the items that Bahamians consume over the next two years, to “cut into the $1 billion food bill by no less than $200 million”.
Another $400 million in value-added food products or processed foods are also imported, according to Pintard.
He said the “economic leakage” could be plugged with a greater focus and partnership from the government and private sector.
However, Pintard said there is a “cultural impediment” to do what is in the nation’s interest to diversify the economy.
According to Pintard, wealth creation, employment and diversification of the economy become possible through food security and sovereignty.
He said the approach to the ministry must be without tribalism to continue programs that benefit the country and adjust programs that need to be without bias.
The Bahamas Agriculture and Marine Science Institute remains the center of agricultural and marine education in The Bahamas.
“What hinders the Bahamas from exploding in this area?” Pintard asked.
“Remember $1 billion is up for grabs for entrepreneurs…”
He said there are billions of dollars left on the table in untapped potential with exports of products.
The minister said in the next fiscal period, there will restructuring of the Food Technology Laboratories with a focus on expanding the staff compliment and physical infrastructure, extending services to farmers and entrepreneurs to minimize post-harvest losses; provide assistance through food security initiatives and continue to provide packaging supplies, among other initiatives.
He added that while there is no quick fix to food security, it can be accomplished as a “united Bahamas”.
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