BDC’s Trade Information Facility News 007
Tale of two worlds: Key differences between consumers in emerging and developed economies
As the financial crisis hit the world, many advanced economies faced recession in 2009, with the possibility of this crisis lasting well into 2010. Despite the downturn, most developing economies are expected to continue to grow, albeit more slowly. Their ability to sustain growth during this crisis puts them in a better position to catch up with the developed world, with the rapidly rising number of middle class households and with the young population in most of the developing world benefiting retailers and distributors of consumer goods and services.
Source: Euromonitor International
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Industry News - Cuba Reports Upturn In Agricultural Production
Cuba’s national statistics office has reported a significant jump in food production during 2009. According to the organisation, rice production was up 44.6% to 300,000 tonnes, dried bean production increased by 9.6% to 106,500 tonnes and milk production was up by 10.8% to 530mn litres. These figures tie in with a report from the New York-based US-Cuba Trade and Economic Council that suggested that the US exported 15% less food (in value terms) to Cuba in the first half of 2009. These increases have been attributed to government initiatives to boost output, which have been introduced to reduce the country’s huge reliance on imported food.
Source: Business Monitor International
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Pistachios set to conquer global nut market
Supremely healthy, as well as tasty, pistachios are preparing to stage a comeback in 2010. Euromonitor International takes a look at global market opportunities for the little green nut.
Source: Euromonitor International
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Molson Coors Increases Presence Of Coors Light In Trinidad & Tobago
US brewer Molson Coors has started selling Coors Light in Trinidad and Tobago as part of its global expansion strategy. The company, in partnership with NWT Enterprises, will sell the Coors Light brand in supermarkets, convenience stores, bars and restaurants across the country. The company aims to meet the growing interest and enthusiasm for American beer in Trinidad and Tobago, which is the fourth largest market for beer in the Caribbean and has the highest per capita consumption. Molson Coors currently sells Coors Light in 10 Caribbean countries.
Source: Business Monitor International
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Tilapia – fish of the future
Battered tilapia may not be what the average British consumer has in mind when visiting the local chippie, but with cod stocks at rock bottom and other formerly plentiful indigenous white fish species drifting into the realm of the occasional “treat”, tradition is giving way to more economical choices.
Tilapia appears to be one of the species benefiting most from the unfortunate double whammy brought about by the decline of wild fish stocks and the worldwide recession. In the US, the world’s leading tilapia import market, the fish had inched up to fourth most commonly consumed fish in 2007, and, according to TheFishSite, a leading on-line news and technical resource for the global aquaculture industry, tilapia is now the second most likely fish to be purchased by US consumers for home preparation.
Source: Euromonitor International
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Country Risk – Trinidad and Tobago – Economy To Rebound, But To Gentler Trend
Although Trinidad & Tobago remains a regional outperformer economically, it is far from immune to swings in global demand as evidenced by the sharp slowdown in the economy in 2009. Although macroeconomic headwinds could linger for some time, we expect the economy to return to growth in 2010, albeit some way off the stellar trend seen in recent years. However, the inexorable decline in the country’s energy reserves, unless met with stronger diversification efforts, could engender problems down the line as export and fiscal revenues wane. Despite the tough challenges facing the government we maintain a constructive view on the twin-state’s economic prospects over the coming decade.
Source: Business Monitor International
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Children and fruit and veg – how to get them into each other?
Euromonitor International reviews some of the approaches employed by UK companies to increase children’s fruit and vegetable consumption, and suggests further avenues worthy of exploration.
UK children struggle with their 5-a-day
Getting one’s 5-a-day can be hard work. According to the UK Food Standards Agency (FSA), UK consumers currently only manage three portions of fruit and vegetables a day. And this is certainly not due to a lack of overall availability. According to Euromonitor International countries and consumers data, availability of fruit and vegetables amounted to 228kg per capita in 2008, up from 207kg in 2003. If consumers heeded the FSA’s recommendation of five daily portions, which equates to 400g, this would amount to just 146kg per annum.
Source: Euromonitor International
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Local small business owners to benefit from Indian SMEs
Local small business owners and regulators will get a first hand description of how India was able to revolutionise the global economy through its small business sector, when a team of Indian SME owners and facilitators visit this country this week as part of Small Business Month activities. The delegation from India will comprise experts in Micro and Small Enterprises (MSE) and representatives of small businesses administration agencies. They visit T&T from January 17 to 23. The delegation will visit Tobago on January 21 and 22 where they will meet representatives of the Tobago House of Assembly and tour the Cove Industrial Estate.
Source: Trinidad Guardian (19/01/10) http://guardian.co.tt/business/business/2010/01/19/local-small-business-owners-benefit-indian-smes
T&T, Guyana agree on agriculture trade
Trade in fresh agricultural produce between T&T and Guyana is expected to increase significantly following the recent conclusion of a bilateral trade agreement between the two countries, says Agriculture Minister, Arnold Piggott. The new trade agreement or protocol as it is referred to, is meant to facilitate easier commercial shipments, to encourage fair trading practices and provide a framework for pest risk management and food safety assurances, states a media release from the Ministry of Agriculture. Agriculture Minister, Arnold Piggott, said his team had been engaging his Guyanese counterpart, Minister Robert Persaud, in a series of meetings and discussions to encourage trade and they were able to significantly deal with some of the issues that have been hindering trade between the two neigbouring states.
Source: Trinidad Guardian (19/01/10) http://guardian.co.tt/business/business/2010/01/19/tt-guyana-agree-agriculture-trade