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Imports ‘hurting’ foreign exchange


NARUPA MOONSAMMY

Imports ‘hurting’ foreign exchange

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THE IMPORTATION of poultry and vegetables is of concern to James Paul, the chief executive officer of the Barbados Agricultural Society (BAS).

During a press conference on Friday at the BAS headquarters in Beckles Road, St Michael, he lamented that the importation of poultry and vegetables was having an impact on foreign exchange.

“We just had a $53 million decline in our foreign reserves because  . . . we are using more foreign exchange than we are earning . . . and here it is that we have an opportunity to earn more foreign exchange by selling more locally produced agricultural products,” said Paul.

He said that it was so bad that many businesses were starting to import products that could be produced in Barbados and farmers were being “deprived of market opportunities” because not only was it happening with poultry but also with crops.

Please read the full story in today’s Sunday Sun, or in the eNATION edition.

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