Caribbean Agrifood Business Session n°14

Innovations of Caribbean entrepreneurs in climate resilient technologies

Various obstacles hinder Caribbean entrepreneurs from adopting climate-resilient technologies. These include limited skill sets, insufficient management capabilities, and a lack of entrepreneurial acumen at the farm level. This situation is compounded by limited financial resources and poor access to credit. According to an IICA discussion paper presented at the 2021 United Nations Food Systems Summit, the Caribbean countries are missing out on some opportunities presented in the innovative revolution for climate resilience.

One area for improvement is the use of biotechnology which serves as a crucial foundation for tackling the issue of low productivity in agricultural investments by focusing on suitable crop and animal genetics. This approach can maximise the use of genetic resources while implementing enhanced practices that can lead to increased yields, better nutritional quality, and more cost-effective and environmentally sustainable production across various crop and livestock systems.

The handling of agricultural waste, which presently incurs expenses for agricultural and agro-processing activities throughout the Caribbean, has the potential to be transformed into a revenue-generating resource through the implementation of suitable recycling technologies. The capacity to generate income from agricultural waste will provide opportunities for individuals with suboptimal agricultural land, while simultaneously decreasing the initial presence of pests and diseases that thrive in improperly disposed agricultural waste. Consequently, this leads to a reduced reliance on pesticides, mitigating adverse impacts on biodiversity and human health, and enhancing the cost-effectiveness of agricultural systems in the Caribbean.

The outlook for climate-smart innovations within the agrifood sector is highly encouraging. Experts in this field anticipate that, in addition to the current advancements driven by digital technologies, quantum computing has the potential to transform agriculture through sophisticated data analysis. This capability will greatly enhance our comprehension of crop dynamics, leading to more precise predictions and tailored farming approaches. Moreover, the rise of bioinformatics and genetic editing technologies may signal a significant shift in crop development practices. The ability to adapt crops to particular environmental conditions could soon become feasible, resulting in improved yields while reducing resource inputs. Digital technology is set to significantly impact the future of agriculture in the Caribbean by streamlining the connection between agricultural producers and consumers. These advancements provide vital tools, information, and e-commerce functionalities that support prompt decision-making and boost productivity. A wide array of digital solutions, encompassing internet applications, mobile technologies, artificial intelligence, and online services, are readily available. The ongoing enhancement of broadband services and investments in information technology infrastructure across the Caribbean make the integration of these technologies highly achievable. Transformations in technology and innovation within policy frameworks are also essential for building resilience in farming systems, increasing agricultural productivity, and achieving the objective of reducing the Region’s substantial food import expenditure by 25% by 2025, as advocated by the CARICOM Heads of Government.