The Ministry of Agriculture's five road shows, held over the final quarter last year to encourage stakeholders in agriculture, have resulted in approximately $55 million in new investment to the sector.

"$28 million of this figure is through loans and approximately $27 million provided by the investors who have put up their funds," Hershell Brown, manager of the Agriculture Support Services Project (ASSP), told the Business Observer.

The ASSP was set up in 2001 to assist potential investors in agriculture to access low interest funding and make contact with established markets.

This $55 million investment, Brown said, resulted from 10 completed transactions. "This is from 10 business plans, which were completed and forwarded to financial institutions," he said.

The loans represent new investments in livestock, condiments, orchards, root crops and apiary culture and will initially provide employment for at least 31 people, Brown added.

He explained that since the road shows last year, the agriculture ministry had received numerous queries with about 130 of them considered "serious". So far, 48 prospects had been screened, Brown said, adding that the proposals for the various projects were categorised for subsequent action.

The categories, he said, were, "People with collateral and markets, others with collateral but no market, and finally those with interest but no collateral or market."

Added Brown: "Sixty-three per cent have been excellent prospects and in promoting those we can do so competitively."

The agriculture ministry has, however, stated that the thrust through the road shows, coupled with the provision of funding and the seeking of markets, was an effort to streamline procedures in agriculture.

"We have no intention of remaining in production, we just want to kick-start the process," said Brown.

The agriculture sector, he added, was now vibrant and the new entrants into the sector, with the more structured approach, stood a better chance for success.

The road shows, which started in Kingston in October last year, were held in Ocho Rios, Mandeville, Montego Bay, and ended in Port Antonio in December.

Workshops during the shows centred on six agriculture sub sectors - orchard crops, pig and sheep production, vegetable production using hydroponics, bee keeping and pepper production.

"With the presentation of these products, many of them are for markets that are guaranteed. We enter into contracts with the markets," Brown said, using the bee keeping industry as one example.

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