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Guyana pushing for more access to Jamaica market for wood products
CEO of GO-Invest, Owen Verwey
Renewed efforts are being made to connect local lumber producers with the Jamaica market, which continues to source the majority of their products from extra-regional sources.
Forest Products Association (FPA) President, Deonarine Ramsaroop, said that Guyana may need to explore more preferential access to Jamaica under the Caribbean Single Market and Economy (CSME). He stated that this would be of great value, as the high costs associated with energy and transportation has negatively impacted the prices that Guyana’s producers can offer the Jamaica market.
Based on an analysis of the comparative wood products available in Guyana which can be provided to the Jamaica market, the total available market is US$124 million. Local producers are providing less than five percent of the total Jamaica market.
According to Persaud, local producers have been contacted by Jamaica buyers for quotations and bids. Persaud stated that in many cases they do not get a favourable response.
“There is some amount of interest from Jamaica, but we are finding it difficult to compete with the prices out of Brazil, for instance. Jamaica should be buying from us, as we are a Caribbean family, and our products are good,” Ramsaroop stated.
Guyana has a natural advantage of physical proximity to export to the Caribbean region, with the main markets for tropical wood being Trinidad and Tobago, Antigua, and Barbados. Persaud noted that Barbados is one of the largest consumers in the Caribbean region of Guyana wood products.
Chief Executive Officer for the Guyana Office for Investment (GO-Invest), Owen Verwey, said there is a plan to connect local lumber producers with Jamaica market. He shared that in late February 2018, GO-Invest, with support of the Jamaica Promotions Corporation (JAMPRO), will lead a mission; “Jamaica buys most of its lumber from Brazil and Honduras, and we are in the Caribbean here. The word we have gotten from them is that no one from Guyana comes really to market their products other than one entity that has done a lot with Sandals,” Verwey stated.
He explained that the support from JAMPRO is crucial, as both countries look for investment opportunities.
“They are going to rally their buyers and their big demand clients together. We are taking a mission over to try to market our products,” Verwey said.
Persaud welcomed the opportunity being provided through GO-Invest.
Guyana remains a top choice for structural construction materials, indoor flooring, decking, furniture, and other value added products. The price per cubic metre of lumber exported to the Caribbean is comparable to developed countries.
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