Memorandum on the economic situation
Blankespoor, Brian | Dasgupta, Susmita | Wheeler, David | Laplante, Benoit
This survey reviews the prospects for expanding the output of selected food processing industries in order to help the balance of payments through increased exports or reduced imports. The report focuses principally on fruits and fruit juices, vegetables, marine products, livestock products, yellow corn and soybeans. The greatest attention is given to fruits and fruit juices, which appear to have the best prospects. In the judgement of leading exporters, export volume growth in processed fruits of about 18 percent p.a. is considered feasible. Demand for these fruit products is expected to show good growth rates, reflecting greater acceptance of these relatively less familiar products in developed country markets. In addition, the export market outlook for shrimp and prawns appears particularly favorable. In order to assure an increased contribution of such secondary food processing industries to the balance of payments, the Government needs to undertake several measures. They include simplification of export procedures, better information on export markets, a packaging study, measures to strengthen research and development, review product standards, eliminate public/private competition, and policy measures in the livestock sector.
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