News Date: February 26 2016
Jamaican sauce and spice makers are being offered the chance to position for business in the export market, with backing of US$1 million in technical assistance from the IFC, the private-sector financing arm of the World Bank.
The ‘Jamaica Sauces & Spices Small and Medium Enterprises (MSME) and Value Chain Project’ aims to improve market linkages with export markets, address standards and improve operational efficiency of spice makers.
“As a result, MSMEs are expected to save costs and increase sales revenues by increasing quality, diversifying products, and seizing new export market opportunities,” said the IFC in project documents.
Sauce earnings alone are on par with Jamaican coffee, which holds a luxurious appeal globally. The global interest for the island’s sauce and spice surrounds its jerk seasoning.