AGRICULTURAL CHEMICAL Plant (Ag-Chem) has secured a $33 million contract to supply Cuba's farm sector with agricultural pesticides.
According to general manager of the plant, Cyril Bridge the herbicide, paraquat and the insecticide, malathion are being exported under the Jamaica/Cuba Line of Credit facility.
After two years of research and trials of the pesticides on several farms in Cuba, the first shipment took place in 2000, said a release on the trade deal.
Bridge noted that as a result of the line of credit facilities, which has been facilitated by the Ex-Im Bank of Jamaica, the company was in a better position to offer credit and receive payment on a timely basis.
Meantime, Ag-Chem is actively pursuing reciprocal business with Cuba to distribute Cuba's biopesticides in Jamaica.
The agro-chemical formulation company started operations in 1978 and is the agricultural chemicals division of Federated Pharmaceutical Company Limited, a member of the Lascelles deMercado Group of Companies.
