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KINGSTON, Jamaica — Agribusiness operators, including agro-processors and manufacturers, are being encouraged to pay close attention to their production costs, product quality and market demand as they position their businesses for long-term growth in the aftermath of Hurricane Melissa.
Alecia Clarke, business solutions manager at JN Bank who met with a range of business operators and farmers at the recently concluded Denbigh Agricultural, Industrial and Food Show in May Pen, Clarendon, said although access to financing is important, business owners must also take deliberate steps to strengthen their operations and profitability.
“Know your true cost of production and protect your margins,” Clarke advised farmers and business operators attending the English-speaking Caribbean’s largest agricultural show. “On the shelf, your product may appear to be profitable, but where money tends to get lost is when one begins to take account of the costs for processing and overheads, so track your input costs very carefully to ensure each product is earning what it should be earning.”
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