In a bid to capitalize on high-value niche markets, stakeholders in the local coconut industry are urged to broaden their scope beyond traditional avenues.
Tristan Alvarez, Deputy Programme Manager at the Caribbean Agricultural Research and Development Institute (CARDI), highlighted the untapped potential during a recent interview with JIS News.
Beyond traditional commodities
Alvarez emphasized that while coconut water, oil, and desiccated coconut remain focal points, there exist lucrative opportunities in value-added production.
He underscored the potential in the cosmetic industry, citing the demand for products like activated coconut charcoal, along with utilizing tree trunk, husk, and shell.
Seizing environmental trends
Highlighting environmental concerns, Alvarez pointed to the burgeoning demand for biodegradable materials.
With the European Union’s shift away from single-use plastics and similar policies adopted regionally, there’s a ripe opportunity to repurpose coconut and agricultural waste for retail and food markets.
Overcoming start-up hurdles
Addressing common challenges, Alvarez acknowledged that start-up costs often deter agro-processors from exploring niche markets.
However, he urged stakeholders to perceive these costs as long-term investments with substantial returns.
Emphasizing the need for innovation, Alvarez stressed the importance of diversifying product ranges to cater to various sectors.
Pioneering creativity and innovation
Alvarez advocated for a paradigm shift in approach, urging industry players to embrace creativity and innovation.
He highlighted the significance of harnessing technology to scale operations, citing existing niche players who have successfully implemented creative solutions.
Alvarez emphasized the necessity of building capacity and integrating technologies to realize broader industry potential.
