Senator Norman Grant

Shelly-Ann Thompson, Staff Reporter

The Jamaica Agricultural Society (JAS) says consideration should be given to Venezuelan President Hugo Chávez's proposal to barter bananas and sugar cane for cheaper oil supplies.

Speaking with The Gleaner yesterday, president of the JAS, Senator Norman Grant, said "Once the price is right" the proposal could offer significant benefits to the country's agricultural sector and economy.

President Chávez proposed that Caribbean and Latin American nations examine the issue of swapping bananas and sugar cane for cheaper oil supplies during a PetroCaribe summit in Cuba last week Friday.

"Details of how it will work will have to be determined meticulously," said Senator Grant.

Consider coffee

The JAS president has also suggested that the country's coffee be considered in any agreement with Venezuela.

Senator Grant noted that Jamaica's coffee was a premium international product and that its export into other countries should be examined.

"Both the Jamaica Blue Mountain and non-Blue Mountain Coffee should be included under this programme," he said.

"If we can get an additional market that provides that type of revenue in terms of coffee, we should pursue those vigorously," he added.

Senator Grant also said that a special line of low-interest loans should be made available under Petro-Caribe financing to fund the expansion of specific crops under the programme. The loan, he suggested, should be at three to four per cent, repayable over five to seven years depending on the project.

"This proposal will gain the support of farmers," he noted.

The proposal by Chávez to barter the agricultural products for oil will be discussed at a JAS board meeting scheduled to be held in a couple of weeks, said Senator Grant.

However, Donovan Stanberry, Permanent Secretary in the Ministry of Agriculture and Lands, said no discussions as yet have been conducted regarding the proposal by Mr. Chávez.

"I imagine that after the holidays when Cabinet meets again it will be discussed," said Mr. Stanberry.

shelly-ann.thompson@gleanerjm.com