T&T is in an economic slump and needs to do more to raise revenue, Racquel Moses, newly appointed Country Manager, Microsoft T&T, said yesterday.
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Cocoa farmers get price increases
Following an excellent crop for the period October 1, 2012, to September 30, 2013, the Cocoa and Coffee Industry Board (CCIB) has increased the price of cocoa (dry bean) to $20 per kilogram for Grade I cocoa. The wet cocoa bean will be bought at $7 per kilogram effective October 1, 2013. This price increase took effect on February 1. The CCIB will pay farmers retroactively from October 1, 2013 to January 31. In a release yesterday, the Food Production Ministry said due to the increasing cost of production, cocoa farmers have been continuously asking for price increases. “In response to their call, the CCIB has given increases of five per cent in crop year 2012/2013 and six per cent in crop year 2013/2014, thereby benefitting approximately 1,700 farmers,” the ministry said.
T&T’s world renown cocoa continues to enjoy success at the Cocoa of Excellence (COE), International Cocoa Awards in Paris, France. Two samples from La Reunion Estate were among the top 50 high quality samples and T&T also secured an accolade for the fine or flavour Trinitario cocoa beans, winning one of the 15 International Cocoa Awards for the Central American and Caribbean region. The minister congratulated Harryman Chattergoon of the Tabaquite Cocoa Fermentary, Tabaquite, after two samples sent from the Fermentary secured places in the top 50 high quality samples, representing the best flavour, quality and genetic origin. The CCIB was established by the Cocoa and Coffee Act 1961 Chapter 64:20 and is mandated to “secure the most favourable arrangements for the purchase, sale, handling, grading, exportation and marketing of cocoa and coffee for the benefit of the cocoa and coffee industry.”