Belize Eyes Coconut Industry as Economic Driver

Belize’s coconut industry could soon emerge as one of the country’s next major economic success stories. That is according to Chief Executive Officer in the Ministry of Foreign Affairs and Foreign Trade, Oscar Arnold, who says the sector holds significant potential for both job creation and export earnings.  Speaking on the country’s trade and investment opportunities, Arnold explained that global demand for coconut-based products continues to grow, creating an opportunity for Belizean producers to expand cultivation and value-added production. He noted that with the right investments and market access, the coconut industry could become a meaningful contributor to the national economy while generating employment opportunities, particularly in rural communities.

Oscar Arnold, CEO, Ministry of Foreign Affairs: “Coconuts will be the next frontier. Speaking with Ambassador Henry Canton, who also has a close relationship with Silk Grass Farms, earlier this year they exported two containers of coconut water to a company over there that already has presence in the Mexican market selling bottled coconut water. So that was a significant milestone. But the discussions now is the exploitation of the coconut nut with the water, the shell, and wrapped in plastic. So once we reach that agreement, once we receive the ‘OK’, that will be a significant commodity that will also have access to the Mexican market. Just to give you an idea during my time in Mexico City, going into a Costco or going into a Sam’s, two coconuts that had the green part shaved off and were wrapped in cellophane sold for about $10.50 US. dollars.”

Arnold says that while coconuts represent one promising avenue for growth, Belize continues to pursue a broader export diversification strategy. He highlighted several sectors that have the potential to increase foreign exchange earnings and strengthen the country’s trade portfolio.  Among the areas being explored are agro-processing, livestock products, fisheries, specialty crops, and other value-added agricultural exports. /