Business View Caribbean | Volume 9, Issue 1

3 BUSINESS VIEW CARIBBEAN VOLUME 9, ISSUE 1 G lobal coconut market demand is at an all-time high and projected to grow exponentially over the next ten years. Increasing awareness of its health benefits, rising applications in the food and beverage industry and the launch of new products has led to wider market penetration. While the Caribbean has tremendous potential to become an active competitor in the global coconut marketplace, its pace of growth has been compromised by aging plantations, lack of quality planting material, prevalence of REGIONAL COCONUT INDUSTRY STRENGTHENED, AS IICA, CARDI A ITC SIGN LETTER OF INTENT FOR COOPERATION pests and diseases, compounded by investment, financial and technological constraints. Recognising the potential of the industry, the International Trade Centre (ITC), the Caribbean Agricultural Research and Development Institute (CARDI), and the Inter-American Institute for Cooperation on Agriculture (IICA) virtually signed a Letter of Intent to facilitate the joint strengthening of development efforts in the regional coconut industry. Expanding on the potential benefits of this initiative, William Castro Rodriguez, International Consultant, ITC stated, “This collaboration will help us to O p e n i n g L i n e s