In a bid to turn its bananas from a commodity into a premium product, Jamaica Producers (JP) is gearing up to expand its operations regionally and seek international recognition for its holistic labour practices.
The company is in the final stages of establishing banana production facilities in the Dominican Republic and Honduras in an attempt to meet increasing demand from the UK market. The firm already owns estates that account for over 90 per cent of all the bananas exported from Jamaica.
“When we plant bananas, they take nine months to mature. During that time, we have to continue to spend money on our operations,” said Jeffery Hall, JP divisional director, speaking at last week’s Caribbean Business Club meeting. “One strategy is therefore to expand, so that the harvesting process in an ongoing one.”
The firm is also increasing production at its banana chip factory, and is seeking to achieve Fairtrade certification over the course of the next 12 months, a demand again driven by the UK market.
“Our value proposition is that we are ethical banana suppliers,” explained Hall. “Our workers have insurance, pensions and access to literacy training. This helps to drive productivity and makes our workers feel as if they are a part of the business.”
The company earned $2.59 billion net profit attributable to stockholders for the year ended 31 December 2006. “Last year was a transformative one for the group,” said financial statements. “Our decision to exit JPFD, our UK-based fresh produce business, represented a critical step in our transition from a commodity-based produce company to a value-added fresh food business.”
Meanwhile, group managing director of JP Groups Dr Marshall Hall is to retire, effective from June 30. Jeffrey Hall is to become chief executive officer from July 1.
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