Guyana, Indonesia sign agreement to explore coconut by-products incubator

Guyana has signed a framework agreement with Indonesia to explore the creation of a coconut by-products business incubator, marking a strategic push to modernise the sector, diversify exports, and unlock new economic opportunities for local farmers and agro-processors.

The agreement was signed by the National Agricultural Research and Extension Institute (NAREI) during a ceremony that also featured in-depth discussions between Guyanese officials and Indonesian research scientists Dr Ester Edwar and Dedy Rahamad, alongside Annisa Sophianny from the Indonesian Embassy in Suriname and technical staff from NAREI.

NAREI has been working extensively with local coconut farmers through its dedicated Coconut Research Unit and supporting departments such as Plant Pathology, Entomology, and Weed Science. These efforts have contributed to the revival of the industry, spurring the development of new estates, the expansion of plantations, and revitalisation programmes aimed at modernising production.

At present, local farmers and agro-processors mainly benefit from two key coconut by-products: water and oil.

However, agricultural officials and stakeholders agree that there is considerable scope to expand into other value-added derivatives, which could help diversify income streams and create new employment opportunities.

The feasibility study to be conducted under the agreement will evaluate the technical, operational, and economic aspects of the coconut by-products sector in Guyana. It will also offer preliminary training and capacity-building support to guide the creation of a full-fledged business incubator to help entrepreneurs and processors innovate and scale up production.

Key beneficiaries are expected to include coconut farmers, agro-processors, technical staff of NAREI’s Coconut Research Unit, and the Hope Coconut Industries Limited, which remains a cornerstone of Guyana’s coconut cultivation legacy.

This strategic partnership with Indonesia, which possesses vast expertise in coconut-based industries, is expected to open new avenues for sustainable growth, increased export earnings, and improved livelihoods for stakeholders across the value chain.