Agri Society: Expand incentives, no more ‘talk shop’

The Trinidad and Tobago agriculture sector is cautiously optimistic about the promises outlined in the 2025/2026 national budget, presented by Finance Minister Davendranath Tancoo on October 13. With a total expenditure of $59.232 billion, the agriculture sector is set to receive $1.13 billion, a slight decrease from the previous year’s allocation of $1.184 billion. However, stakeholders are urging the government to move beyond rhetoric and deliver tangible results. Darryl Rampersad, president of the Agriculture Society, expressed skepticism, noting that past government pledges often failed to materialize. He emphasized the need for agriculture to be prioritized and for existing incentive programs to be expanded, including the removal of VAT on essential agricultural items. Minister Tancoo announced several measures aimed at revitalizing the sector, including VAT exemptions on machinery and equipment for agricultural use, hydroponic and greenhouse farming components, and locally grown produce. Additionally, Customs Duty on feed for poultry, cattle, and pigs will be removed starting January 1, 2026. The government is also aligning with Caricom’s ’25 by 2025′ initiative, aiming to reduce food imports by 25% by 2030. Key strategies include a three-year priority commodities program, climate-resilient farming, crop insurance, and investments in agri-tech and smart agriculture. With $793.7 million allocated for infrastructure, irrigation, and fisheries, the government is targeting $1 billion in agricultural exports in the next fiscal year.