Fish production will double as result of Rainforest Seafoods – Finance Minister

FINANCE MINISTER Camillo Gonsalves is confident that fish production in St Vincent and the Grenadines will double as a result of the newly opened Rainforest Seafood facility in Calliaqua.

SVG FINANCE MINISTER Camillo Gonsalves addressing the opening ceremony for Rainforest Seafoods.

Gonsalves, who was speaking at the official opening of the ‘Big Blue’ processing plant last Friday, July 15 noted that between 2012 and 2020, this country’s fisheries earnings more than doubled, growing by 125 per cent.

In 2012, this country reportedly landed EC$8.9 million worth of fish and by 2020, that figure had increased, with EC$21.5 million worth of fish being landed in that year.

“That’s before Rainforest got here. But it was showing a trajectory for the growth of fisheries and seafood in St Vincent and the Grenadines because it’s not many industries I can brag about as minister of finance, or that Saboto (Caesar) can brag about as minister of agriculture to say that between 2012 and 2020, you’ve grown 125 per cent; you’ve more than doubled,” Gonsalves said.

The finance minister also believes the company’s operations here will generate significant wealth for the local fishing community, which spans Union Island to Owia.

The Rainforest Seafood SVG facility takes up an area of 25,000 sq.ft and is valued at EC$10 million. At present, it employs no fewer than 100 Vincentians and has reportedly been operating for over four months.

Gonsalves said that within that time frame, seafood has been purchased from 150 local fishers, with a total payout of EC$3 million being made.

“Do the math…150 fishers, put that into $3 million, you get about $20,000 per fisherman and if you divide it by the four months — this is obviously on average — you talking about $5000 a fisherman in the last four months. That is an incredible contribution to fisheries and the growth of the sector here in St Vincent and the Grenadines,” he said.

He added that “the contract that we signed with Rainforest Seafood says they plan to put into the hands of local fishers, not $3 million but $20 million annually. Imagine the wealth that will create for fisherfolk all over St Vincent and the Grenadines.What we’re doing with this $3 million so far is scratching the surface”.

This additional $20 million annually, he said will lead to yet another doubling in the country’s fisheries sector.

There are several other Rainforest operations established in other Caribbean countries including Jamaica, Barbados, St Lucia and Belize.The company employs over 1000 persons in the region and exports to more than 30 countries globally.

This country’s finance minister believes that the demand created by Rainforest Seafood will “catapult fishing from an artisanal profession to an absolute money earner for fishers all around St Vincent and the Grenadines because now we have a level of demand that we’ve never had before in St Vincent and the Grenadines”.

Gonsalves noted however, despite the presence of fish stock and experienced fisherfolk, the need for capacity building efforts which are ongoing by the Government of St Vincent and the Grenadines.