Despite these innovations, he described last year's growth for Vemco as "small." "We saw small growth in 2010, may be three to four per cent. Not what we experienced in 2006, 2007 and 2008. We did not have that type of double-digit growth.
Higher commodity prices
Mouttet said the company exports throughout the Caribbean, from Jamaica to Guyana. "Forty per cent of what we manufacture, we export." Vemco Ltd also manufactures for Jamaica. "We also do contract manufacturing for GraceKennedy. We do products like macaroni and spaghetti, peanut butter. We then ship them back to Jamaica." Mouttet said that as an importer and manufacturer, Vemco is in a unique position.
"We import raw materials used in our manufactured products, like semolina for making pasta, peanuts for peanut butter and sugar for some of our other products. Those are key items for us. "We are also an importer of finished products." Mouttet said it's not easy to keep prices down in such a challenging environment.
New markets, new products
Despite the tough environment the company faces, Mouttet said it has to sustain the fight. "For 2011, it's going to be new products and new markets for us. I can't sit here and feel sorry for myself and say there's gloom and doom." He said it's important that the Government takes manufacturers seriously. "As manufacturers, we have a responsibility. We employ a substantial amount of labour after the Government. A certain level of recognition needs to be given by the Government to this fact. I want to see more meaningful consultation with the Government and manufacturers. The TTMA is well-run and is vibrant. More attention needs to be given to what they say instead of lip-service."