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Belize exports first shipment of soybean oil to Jamaica

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Belize exports first shipment of soybean oil to Jamaica

Wednesday, January 30, 2019

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BELMOPAN, Belize (CMC) — Belize Monday announced that it had exported five containers of crude soybean oil to Jamaica, making this the first ever shipment of soybean oil to the region.

The government said that the shipment was made last Thursday and that the Directorate General for Foreign Trade (DGFT) has been monitoring requests from Caribbean Community (Caricom) countries for the suspension of the Common External Tariff (CET) to identify regional demand and potential export opportunities.

It said that these regionally demanded products are shared with the productive sector and the public for expression of interest to supply and as a result two locally based companies had responded “with significant quantities to supply the Jamaican market, and after successfully meeting their import requirements were able to export crude soybean oil”.

The authorities said that since 2016, EXPORTBelize, a unit of BELTRAIDE, along with the DGFT have been building awareness within communities here “of the demand for both crude and refined soybean oil in the region through sensitisation sessions as well as export opportunity handouts”.

“The Ministry of Investment, Trade and Commerce, through these agencies, continue to facilitate export market entry requests as well as to actively seek export markets for local producers,” the government statement added.

It gave no indication as to the revenue expected from the shipment of the soybean to Jamaica.

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