The article concludes:
You can find the full article linked here
The article concludes:
You can find the full article linked here
Pomeroon Trading is listing all of its shares on the Guyana Stock Exchange.
Whilst Guyana has an incredible natural environment and huge potential for agricultural growth, there are no listed agriculture companies on the Exchange. This announcement changes everything, making history. With the company open to public investors, management demonstrates to the Guyanese people that the company is aligned with the country for the long term.
Pomeroon Trading began operations in Guyana in 2017. The vision from day one was to build a sustainable agriculture company: vertically integrated and focused on exports, but with a strong social mission and respect for the natural environment. Two years on, the British founders invested their own money alongside investments received from international investors into a 700-acre estate flanked by the Pomeroon River and the Atlantic Ocean.
The company will issue an additional 133,333 new shares at a price of USD 7.50 per share for any new investors who wish to invest in the company.
Pomeroon Trading will be just one of three companies to successfully list on the Guyana Stock Exchange over the last decade. The management hopes that this timing, allied to the economic growth that Guyana is now enjoying, will help encourage many others to follow in our footsteps-and deliver good returns to new shareholders.
Investors wishing to participate in the listing, via the company’s Agent Guyana Americas Merchant Bank, may receive copies of management presentations and materials.
Press Coverage For The Pomeroon IPO:
Guyana may have struck oil, but it intends to stick to its low-carbon path, writes Valerie Marcel at Chatham House.
According to the Royal Institute for International Affairs, Guyana has a bold vision for the future: balancing transformative reserves of oil with its ecological vision.
You can view the original article here
The Sustainable Development Goals are at the heart of the 2030 Agenda for Sustainable Development, which provides a road map for countries to reduce inequality, tackle climate change and spur economic growth.
After more than 20 years of building a global partnership for sustainable development, 2015 marked a milestone; this was the year when the 17 UN Sustainable Development Goals (SDGs) were adopted by all 193 state members of the United Nations,.
The 17 SDGs are:
These tackle some of the world’s most pressing issues so success is contingent on genuine cooperation from different stakeholders. We believe that the business community is fundamental to the project. We cannot rely government handouts or charitable endeavours: there should be a solid business case for each initiative.
Not only is this good for the global community, but following the SDGs can improve a company’s performance :
Drive growth and innovation: Many companies may think that their markets are saturated, but by introducing products aimed at nontraditional consumers (e.g. clean energy lighting systems or low-priced water purification filters) new markets are created. Businesses can find new ways to grow and stimulate innovation while focusing on SDGs.
Address risk: The effects of climate change and the depletion of resources represent significant threats to most companies. By committing to source and operate sustainably, businesses contribute to mitigating these risks and can be catalysts for positive change and adoption of best practices within their industries.
Attract capital: businesses that are run sustainably perform well and are better to achieve gains in the long run. This more inclusive form of capitalism is essential for our society’s well-being, and also more attractive to today’s investors.
Focusing purpose: While many companies try to do good, most of them do not know where to start. SDGs help to guide those efforts to the world’s most pressing issues. By pursuing SDGs, companies make more efficient use of resources and can see actual results. As a consequence, employees feel proud of and connected with the company’s purpose, increasing motivation among them.
Companies such as Unilever, Visa, Jetblue, and Kimberly-Clark have pioneered in aligning their strategies with the SDGs. Now they are inspiring more businesses to join their efforts. At Pomeroon, we believe that SDGs have a vital role to play in the agriculture sectors, Practically every decision that agribusinesses make are strongly linked to the 17 goals. The goals inform sourcing decisions, labour management, environmental practices, crop choices, trade flows and much more.
In Guyana, a country that is about to become a major player in the oil industry, the impact that agriculture can have on reducing inequality and promoting conservation deepens. Agriculture has the power to improve security and therefore eliminate hunger and promote good health, to provide decent jobs and hence reduce poverty, to fight climate change, among many other benefits.
Pomeroon has introduced many of the SDGs in the company’s strategy. These will contribute not only to a better Guyana but also to improve company performance.
The Pomeroon Development Fund focuses on community projects in Guyana targeted at Education and Female Empowerment.
We chose this corner of Guyana because of its fertile land, the stunning natural environment and the unique local communities. To support this community, we pledge to play a meaningful role in stimulating the local economy; to protect the natural environment through conservation and sustainable practices; and to develop the socio-economic environment for women and children along the river.
In 2018 we ran two projects:
Women's Empowerment Seminar Project: We designed and sponsored a seminar series for 50 women from the Pomeroon community covering gender equality, entrepreneurship and access to finance. The workshop was run in conjunction with the Ministry for Social Protection and established self-help groups for women in the Pomeroon to link them to development agencies and lending institutions. There was also optional (and free) cervical cancer screening, led by the Cancer Institute of Guyana. For more information, see here.
Hackney Primary School Dining Room: We built a dining room at a local primary school in the Pomeroon. Prior to the new dining room, the children had to eat outside (in the direct sun) or inside (thereby dirtying the classroom) as there was no dedicated dining area. The new beautiful wooden dining room will accommodate all children and teachers, thereby facilitating the existing feeding program and teaching of dining etiquette. The dining room is constructed in the local traditional style using local materials and local craftsmen. For more information, see here.
In 2019 we are running two projects:
PROJECT #1 —> Rural Education Project: We are building a library and computer centre at two Pomeroon schools. This project is run with the kind support of Eco Oil & Gas Ltd and the collaboration of the Ministry of Telecommunications and the Guyana Energy Agency.
The key outputs of the project are as follows:
Build a library and computer centre at Abram Creek’s Primary School
Build a library and computer centre at Kabakaburi Primary School
Provide support for after school programs at the two schools
PROJECT #2 —> Agricultural Livelihood and Science Project: We are partnering with Wakapoa Secondary School to teach agricultural and business principles to students and establish a scholarship program
The key outputs of the project are as follows:
Construction of a chicken pen and providing education to students on how to rear broiler chicks
Business education for the department
Establishment of a scholarship program for the top graduating Agricultural Science student to attend Guyana School of Agriculture or Essequibo Technical Institute
For our progress on these projects so far, please download our CSR Update
Guyana is a land of intrigue. It’s the only English speaking country in South America. It’s home to the world’s largest single-drop waterfall, over four times as high as Niagara Falls. It’s 80% covered with pristine, untouched rainforest.
But Guyana’s story could soon have a significant twist, as recent discoveries of offshore oil and gas reserves are catapulting the country onto the global stage. Driven by billions of dollars investment from Exxon Mobil, the country has discovered over three billion barrels of oil: some estimate the country will earn $5bn per annum by 2030.
For the 750,000 inhabitants of Guyana it’s an inflection point. Many dream of what the oil find means for their nation. But many are wary of the resource-curse and only have to look to their neighbor – Venezuela – to see what happens when oil wealth is squandered.
The resource curse – sometimes referred to as the “paradox of the plenty” – is the theory that that countries with an abundance of natural resources tend to have lower economic growth, worse development outcomes, and are less democratic than countries with fewer natural resources. Domination of commodity exports increases the exchange rate thereby hindering competitiveness of other industries, leading to over-reliance on the commodity sector which is inherently vulnerable to price volatility. This leads to lower economic growth, greater inequality and more absolute poverty. It can also lead to entrenched elites and higher levels of corruption as “easy resource revenues eliminate a critical link of accountability between government and citizens, by reducing incentives to tax other productive activity and use the revenue to deliver social services effectively” (The Atlantic, April 2012)
Before Nigeria first produced oil in 1958 it was considered “the breadbasket of Africa”. Now, oil revenues account for 98% of earnings and Nigeria is the third largest economy in Africa yet 45% of the population live under the poverty line. The agriculture and manufacturing sectors were destroyed in place of oil.
The Government of Guyana , aware of the opportunities and challenges that the oil and gas reserves convey, has laid out a fifteen-year plan: The Green State Development Strategy. The objective of the strategy is to reorient and diversify Guyana’s economy, reducing reliance on traditional sectors and opening up new sustainable income and investment opportunities in higher value adding and higher growth sectors.
There are seven central themes:
Green and Inclusive Structural Transformation: Diversifying the economic base, accessing new markets and creating jobs for all
Sustainable Management of Natural Resources and Expansion of Environmental Services: stewardship of natural patrimony
Energy: transition to renewable energy and greater energy independence
Resilient Infrastructure and Spatial Development
Human Development and Well-being
Governance and Institutions
International Cooperation, Trade, and Investment
Within these buckets are specific initiatives, such as creating of a sovereign wealth fund for oil proceeds and investing in shared processing facilities for value-added processing of agricultural goods. While many of these are longer term projects, some are already in progress and will deliver more immediate results.
The energy efficiency project in Bartica, for example, includes the connection of a 20kWp grid connected solar photovoltaic system along with the installation of energy efficient lighting. The undertaking, implemented with the support of the Japan-Caribbean Climate Change Partnership, is only the beginning of a broader national plan that will help address energy security. This is part of the government’s commitment to transitioning to the use of 100% renewable energy in public institutions by 2025.
A second initiative aims to protect the country’s rainforest. After receiving funding from Norway to curb deforestation, the Guyana Forestry Commission developed a system for measuring the quantity of carbon stored by the country’s forest and is now able to make educated decisions about which trees can be cut down with the least impact to the ecosystem. Guyana’s annual rate of deforestation has dropped to 0.048%, one of the lowest figures in South America and well below the 0.275% average for tropical countries (Bloomberg, May 2019)
We believe agriculture plays a critical role in the future economy of Guyana. It will help to ensure diversification and guarantee food security. Guyana has always been a land of farmers: with the fertile soils and generations of passed-down-knowledge, we cannot afford to let this critical industry disappear.
Pomeroon is playing its part in this new breath of life for the agriculture industry. We are:
Introducing new, high-value crops such as tropical fruits and spices. These are exportable crops that have sustained demand in North America
Building processing facilities that meet North American and European standards. These facilities will be used for our own in-house production as well as smallholder produce as part of our out-grower programme
Improving the quality of domestic coconut production: we select better varieties that are more resistant to disease and have better yields
Planting the largest coconut seedling nursery in the Caribbean to ensure safe and secure supply of seedstock for all farmers
Investing in data-driven trials to find the next big crop that will drive agricultural exports
A PDF of this thought-piece can be downloaded here
The Pomeroon embodies a paradise to grow coconuts but this is not the only crop that thrives in our estate. As part of a series of data-driven trials, we are experimenting with new crops such as moringa oleifera.
Moringa trees growing in the Pomeroon and moringa nursery
Central to our philosophy is intercropping. This is a core agronomic principle: it helps replenish soil nutrients, controls unwanted weeds, minimizes soil erosion, and increases both soil fertility and oxygen content. Moreover, it has an important role to play in farm economics; by growing valuable fruits and spices we generate additional revenue sources.
Moringa is considered one of the most nutrition-rich plants in the world. Tracing its origins to India, moringa has gained fans around the world, as consumers concerned about maintaining a healthy lifestyle are going wild for this superfood. According to scientists from the University of California, Davis, “If there were a top 10 list of plants that are going to help feed the world over the next hundred years, moringa should be on that list”.
Moringa is an efficient crop to grow and market. You use every part of the plant including the leaves, pods, seeds, and flowers. It is also grown year-round and can fill in otherwise unoccupied areas of land on a commercial farm.
In 2015 more than 80% of Moringa was grown in Asia but this is now changing as the Caribbean and South America catch up. The increasing demand from nutraceuticals and food and beverages companies worldwide is pushing the region to grow its moringa production at a faster pace. Countries such as Brazil, Colombia, Paraguay, Trinidad and St. Lucia are pulling ahead. Even North America, where competition from higher-value crops is strong, is growing moringa: small farmers are planting out swathes of the Coachella valley and even Hawaii.
Driven by the health-foods sector, the moringa market is expected to reach $7 billion by 2020 (from $4 billion in 2015) and a CAGR of 10% for the 2018-2022 period. At the time, parallel industries are taking notice: even the animal feed market is looking to moringa as an affordable substitute to other food sources that are under pressure.
Since 2018 Pomeroon has conducted data-driven trials with different varieties of moringa - or as it’s known locally, saijan. We plant lines of moringa trees amongst the coconut trees, making use of all available space. The pods are used in local cuisine; the leaves are dried outdoors under the sun before being powdered for export market; the oil from the kernel is used as a food supplement.
To make this one of Guyana’s main exports will require significant investment in processing. To this end, Pomeroon is currently designing a multi-purpose spice and dried fruit facility that will process crops from our estate and local smallholder farmers.
Sun-dried moringa leaves and moringa pods
The world is facing a monumental food security challenge: we need to produce 70% more food by 2050 to feed an estimated 9 billion people. This problem is compounded by agriculture’s vulnerability to climate change. And to make it even more complicated, agriculture is part of the climate change problem: the sector generates 20-30% of the total greenhouse gas emissions.
So, how do we produce more for less? We believe Climate-Smart Agriculture is the answer - a more resilient food system that produces more and pollutes less. To achieve this will require contributions from us all, so here’s what we are doing:
1) Increasing agricultural productivity: from when we started working in Guyana we learned something very quickly: lack of availability of high-quality coconut seedlings was holding back the entire industry. This was validated by an academic research paper run by Duke University. We have spent hundreds of thousands and USD investing in what we believe to be the Caribbean's largest private coconut seedling nursery. This matters because high-quality seedlings drive productivity in future years: coconut yields can vary from 50-250 coconuts per tree, a massive variation that will define the success (or not) of estates for the next generation. We hand-select seednuts, grow them in our nursery in controlled conditions and then plant in the fields at the right time. We also share our innovations with the local community - teach seminars to smallholder farmers and sell seedlings at affordable prices.
2) Building resilience: we farm an area of land sandwiched between the Pomeroon River and the Atlantic Ocean - climate change is an existential threat to the farming communities of Guyana and we take this very seriously. We have constructed extensive drainage across the farm: digging drainage canals from end to end, and then smaller drains literally every 5-10m through on a grid pattern. With kokers (adjustable water gates that allow water in/out) we now have complete control over water levels within the estate. Moreover, we are bolstering the natural mangrove defences along the waterside - environmentally-friendly protection against flooding and soil erosion.
3) Reducing greenhouse gas emissions: Reducing or removing greenhouse gas emissions: coconut trees have proven potential for carbon sequestration (a net positive effect as carbon is removed from the air and sequestered in the trees). According to an independent assessment, the greenhouse gas emission reduction potential of 60 trees per acre in a 1,000 acre estate is around 2,400 metric tons of CO2 equivalents per year. We are planting over 65,000 trees in the Pomeroon (one of the largest tree planting efforts). Because of our leadership in this area we were invited to be Guyana's first member of Initiative 20x20, the World Resources Institute programme to fight land degradation.
Pomeroon has been recognised for its CSA achievements:
(1) Journal of Urban, Rural & Environmental Resilience: featured Pomeroon in an article entitled “In Guyana, This Coconut Producer Has Restored 1000 Acres of Degraded Farmland” about the intersection between environmentally sustainable business and profitable business.
(2) Spore: the publication of the Technical Center for Agriculture and Rural Cooperation featured Pomeroon in an article entitled "A more Resilient Approach" about how development banks and private lenders are developing innovative blended finance and risk-sharing solutions to tackle the effect of climate change on agriculture supply chains.
You can download the Spore article here
Journalist Caroline Popavic from Martinique la 1ère filmed a feature about coconuts in Guyana. The documentary (in French) tells the story of the rise of Guyana’s coconut sector from the perspective of both smallholder farmers and large integrated companies.
In a new report on the global coconut industry, Agronomy Capital Advisors argue that the industry is separating into “well-funded, progressive and vertically integrated agro-industrial coconut producers” and “dispersed smallholder production”.
The report adds that “very small (less than 1 hectare) and widely scattered, subsistence farms across Asia … account for more than 70% of the global coconut crop”. These are ageing and low-yielding estates (the Philippines average yield is less than 4MT/ha) in areas with “near-impossible logistics” and basic local processing facilities.
In comparison, South America - led by innovation and scale in Brazil - benefits from “technologically based farming, with advanced irrigation systems and high yielding varietals, purpose bred for specific product niches” and “a sophisticated modern distribution network”.
Pomeroon Trading is featured on page 55 and one of the report’s authors visited The Stoll Estate (Guyana) as part of an on-going collaboration.
You can download the report in full HERE
Initiative 20x20 is a country-led effort seeking to change the dynamics of land degradation in Latin America and the Caribbean by bringing 20 million hectares of land into restoration by 2020.
Pomeroon Trading was invited to join by the World Resources Institute as a Financial Partner. Our Stoll Estate in Guyana will be showcased as a restoration project that delivers valuable social and environmental benefits as well as ensuring the protection of pristine lands at risk of degradation. This is the first such project recognised in Guyana.
You can see Initiative 20x20’s feature about Pomeroon here.
The initiative — launched formally at COP 20 in Lima — supports the Bonn Challenge, a global commitment to bring 150 million hectares of the world’s deforested and degraded land into restoration by 2020, and 350 million hectares by 2030.
Land restoration can increase food productivity and security for an estimated 49 million under-nourished people in Latin America and the Caribbean
Latin America and the Caribbean account for about half of the world’s remaining tropical and southern temperate forests
Guyana - with its fertile lands and strategic position outside of the hurricane belt - is ideally positioned to become a major supplier of coconut water to the North American Market.
On a visit to Pomeroon Trading’s Stoll Estate, Minister of Business Dominic Gaskin said the Guyanese coconut industry is on the brink: “with the right injection of new ideas, pilot projects and new funding, the industry can become a major contributor to the Guyanese economy”
See the Guyana Chronicle article here
Pomeroon Trading designed and sponsored a Women’s Empowerment Seminar Series in Guyana. The workshop – held for 50 women from the community – included presentations on gender equality, entrepreneurship and accessing finance.
The seminar is part of the Women's Empowerment and Development Strengthening Project, an initiative to promote the socio-economic development of women by building an environment for social change in targeted rural areas.
In addition, there was cervical cancer screening services offered free of charge to all women. The project was run in conjunction with the Ministry for Social Protection and the Cancer Association of Guyana.
For more information, read media coverage of the event here
"Coconut Output to Quadruple by 2025"
A detailed article published by the Stabroek News covering the rapidly growing interest from the international investor community in Guyanese coconuts. The article also features the "Lead Farmer" programme, an initiative to "catalyze business alliance formation" between smallholder farmers and larger farmers. Pomeroon Trading has been a Lead Farmer since the inception of the programme. See the full article here.
Pomeroon is looking for Chief Operations Officer to run our day-to-day business in the Caribbean. You will manage our operations across different agricultural assets, lead our expansion efforts, and be our representative in the region.
See the full job description here and apply to join our team!
One of the largest challenges facing the Caribbean coconut sector is supply of good-quality planting material. Pomeroon Trading is changing this.
In December 2017 we began work on the Pomeroon Seedling Nursery – a venture we believe will become the Caribbean’s largest private sector nursery.
The availability of coconut seedlings is one of the key reasons for underperformance in the Guyanese coconut sector so we are tackling this problem at the most fundamental level. Existing estates are often ageing and unproductive: without the right planting materials the industry cannot revitalise.
We are delighted to be partnering with The National Agricultural Research & Extension Institute of Guyana (NAREI), and the Caribbean Agricultural Research and Development Institute (CARDI). The organisations play critical roles in spreading knowledge amongst smallholder farmers. Their expertise and grassroots engagement in selecting the best seed-nuts from across the Pomeroon will ensure we are growing only the strongest and most productive coconut trees in the coming decades.
Once selected, seed-nuts are classified and graded for quality. Our team plants only the top-tier nuts in our nursery, located at the Stoll Estate. They will grow for 3-6 months in the fertile soil before being transplanted out to the fields where they will blossom into the next generation of mature coconut palms.
For more information, see an article here published by Kaieteur News, Guyana
Pomeroon Trading is featured in the Guyana Chronicle.
The expansive article covers the Pomeroon Coconut Nursery, plans for processing facilities, and the fertility of the Pomeroon region. See the full article here
Pomeroon CEO, Duncan Turnbull, argues in the Global AgInvesting Magazine, that as the Guyanese sugar industry is in terminal decline there is home from the sugar industry.
Cane sugar has dominated more than just the Caribbean landscape: it is fundamental to the socio-economic fabric of the region. As Guyana prepares to turn off the sugar industry’s life support, another industry is awakening. Coconut exports, in metric tonnes, have increased by a factor of 40 since 2008 and farm gate prices have tripled.
See full article here