Public-Private Partnerships & Entrepreneurship with Caroni Green Limited in T&T
Our tenants who are involved the business of Agro-Processing may already know about Caroni Green Limited (CGL), a wholly-owned State Enterprise which commenced commercial operations in September 2014 in Trinidad and Tobago. CGL’s vision is to be the lead facilitator of the development and creation of globally competitive, profitable and sustainable agro-based industries in Trinidad and Tobago in support of economic diversification. CGL’s mission to“create and facilitate the development of value added agricultural businesses through public-private partnership” has come into focus with the recent downturn in the local economy in 2015. In this regard, the company has very aggressively pursued the invigoration of Trinidad and Tobago’s agro-processing industry based on the production and processing of hot peppers
The majority of CGL’s production of hot peppers is exported for processing, making this State Agency the largest generator of foreign exchange in the agricultural sector. While CGL continues to receive commendations from local exporters and purchasers in North America on the superior quality of its hot peppers, the company is also contributing to a reduction of foreign exchange utilisation by selling some of its produce to local processors of pepper mash.
CGL’s success in large-scale commercial production of hot peppers is a first in Trinidad and has resulted in significant alliances being established which will contribute to significant growth and expansion of the Agri-Business sector. CGL’s consistency and reliability of supply of the hot peppers is facilitating the creation of a cadre of new and existing agro-processors dedicated to the manufacture of significantly higher-valued products..
Caroni Green Limited recognizes that its success in hot pepper production has only skimmed the surface of the real potential of this agribusiness venture. There are very lucrative agribusiness opportunities in the local and export markets and CGL is fully committed to making a meaningful contribution to the realisation of that potential. It is the company’s intention to rapidly expand the agricultural sector by engaging more farmers in its successful Public-Private Partnerships business model . The company has also indicated that similar to hot peppers, they will be looking in papaya production.
This is indeed great news for tenants looking for new opportunities in the agro-processing sector.