THE EDITOR, Sir:
WE ALL recognise the importance of agriculture to the Jamaican economy. While some may feel that it should be abandoned altogether, there are crops that we can produce and that we are producing quite efficiently (if agricultural subsidies in other countries are discounted).
Each year we have stories about farmers not finding markets for various agricultural products and or only getting a small fraction of the final retail price. It is for that reason that I think it is time the Ministry of Agriculture along with the Jamaica Stock Exchange look at the possibility of setting up a local commodities exchange.
We already have the most sophisticated financial system in CARICOM with bonds, equities, currencies and debt being freely traded, so why not commodities? This would provide an efficient market-place for our farmers to make contact with buyers and get a fair, market-determined price for their produce.
It also has the potential to drive productivity and efficiency in agriculture, as well as shifting production to crops that give the best financial returns. In addition to the impending Caricom Single Market and Economy (CSME) it may also be possible for farmers in other territories in the region to benefit from this exchange.
We already have the basic infrastructure in place, so now it is for the powers that be to work out the details that will help farmers in Jamaica and the region reap more of the benefits from their hard labour.
I am, etc.,
RICARDO SMALLING
rsmalling@sympatico.ca
St. Michael, Barbados
Via Go-Jamaica
