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BAMSI shifting business model

The Bahamas Agriculture and Marine Science Institute (BAMSI) has shifted its focus to the wholesale buyer in order to find the most feasible ways to offload its crops, as well as decide which crops to focus their production on.

In a press release issued yesterday, BAMSI officials said forming relationships with the wholesale sector and industry stakeholders, such as large hotels and restaurants, will allow for the institute to put itself on a path to stable growth.

The facility recently welcomed potential partners and industry stakeholders to its North Andros agricultural facility to “see firsthand how the facility is run, what farm practices are in place, to assess the quality of the produce in the ground and decide whether the forecasted yields were accurate projections”.

BAMSI President Tennyson Wells said the institute’s new strategy should improve its economic trajectory.

“The purpose of this tour is to offer potential partners and stakeholders a first-hand view of BAMSI’s facilities,” Wells said.

“Our hope is that this trip will reinforce our ability and commitment to selling select, quality items on a scheduled basis.”

Farm Coordinator Stephen Adderley said in the release that BAMSI is looking at the costs associated with crop production in order to determine which crops are making a profit and which might need a shift in growing methods in order to turn a profit.

“Crops that have a problem making a profit, we can either change our growing practices or utilize new technology that would change the production cost or eliminate that crop from rotation entirely,” he said.

BAMSI’s new operational model calls for potential buyers to contract for certain produce based on the institute’s ability to offer forecasted yields, and also ensure the quality and quantity of produce are in line with industry standards.

“At present, the institute brings to market approximately a dozen individual crops, ranging from the ‘Bahamian trio’ of tomato, sweet pepper and onions; to broccoli, cauliflower, okra, pumpkin and zucchini,” according to the press release.

Senior Business Reporter at The Nassau Guardian
Chester Robards rejoined The Nassau Guardian in November 2017 as a senior business reporter. He has covered myriad topics and events for The Nassau Guardian.
Education: Florida International University, BS in Journalism
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