Presentation on

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Presentation on

• Caribbean Herbal Industry
• By A.H.Parke
• C/O CHBA Secretariat

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CARIBBEAN HERBAL INDUSTRY

• The estimated annual global trade in
• Crude medicinal plants exceeds US 800 M
• Herbal extracts and semi-finished raw
• materials exceeds US 8 B
• EU is the largest market for Herbal products

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CARIBBEAN HERBAL INDUSTRY

• IICA, CTA, CDE, CS with support of JAMPRO hosted
  the Caribbean Herbs Business Forum (Montego Bay,
  Jamaica 2002) to develop an institutional
  framework for building and directing the growth
  of the regional industry.

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Caribbean Herbal Business Industry

• January 5 2004
• CHBA was legally registered in Trinidad and
  Tobago with direct institutional and financial
  support of IICA (Trinidad and Tobago Office)
• Commencement of the Sector Programme support
  of donors CTA, CDE and IICA.

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Caribbean Herbal Business Industry

• The trade in herbal products can be categorised
  into three major groups
• Food - spices, colouring flavouring
• extracts, teas
• Cosmetics perfumes
• Medicine - nutraceuticals, functional foods,
• supplements, remedies, homeopathic drugs
• and phytomedicines.

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Trade in Herbals/Botanicals

• The products identified for development within
  the Caribbean include
• Dried and fresh herbs
• Herbal teas
• Essential oils
• Liquid extracts and tinctures
• Cosmaceuticals
• Plant derived pure pharmaceuticals
• Exotic herbal drinks
• Neutraceuticals

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Trade in Herbals/Botanicals

• The preliminary data indicate that there are some
  90 companies throughout the Caribbean engaged in
  various aspects of herbal business.
• These companies are typically small and owner
  operated.

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Trade in Herbals/Botanicals

• In the Caribbean there is very little existing
  secondary data on the herbal industry however
  most any herbal-based product that is available
  in the developed countries can be found in our
  supermarkets, pharmacies health food stores,
  spas, aromatherapy and massage parlours.

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Trade in Herbals/Botanicals

• The perception of the Caribbean as a vibrant,
  healthy, lively environment and international
  reputation as a source of exceptional culinary
  products provides a strong base for the promotion
  of Caribbean herbal products.

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Caribbean Herbal Business Industry

• The Caribbean Herbal Business Association will
  seek to develop a sustainable herbal industry and
  become the recognised body for networking,
  lobbying and negotiation on issues affecting the
  herbals/botanicals industry.

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CHBA Activities in 2004

• Registration of the CHBA and creation of the
• Associations brochure, logo and letterhead
• Awards of grant funding from the CTA
• - Handbook of Selected Caribbean Herbals
  for Industry
• Phase I
• - Ownership, population and maintenance of
  the
• www.caribbeanherbs.org
• - Composite Exhibition at the Caribbean
  Gift and Craft
• Show and Vitafoods
• Award of grant funding from the CDE to prepare
  the
• Associations Business Plan

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CHBA Activities in 2004

• Hosting of 2 Executive Steering Committee
• Meetings
• Launch of two National Chapters appointment
  of a
• Country Representative for Guyana
• Award of grant funding from ProInvest
• - Market and Technology Survey, Three seminars
  promoting Product Profiles and Publication of a
  quarterly magazine
• Plans developed for joint hosting of the 7th
• International Conference on Herbal Medicine
  in the
• Caribbean ( St. Lucia, June 2005).

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CHBA Activities in 2005

• Completion of short-term actions/activities
• initiated in 2004
• Launch of three National Chapters, Trinidad
• Tobago, St. Lucia and Dominica
• Agronomic research under joint IICA/CARDI
• Technical Cooperation Agreement.

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CHBA Activities in 2005

• Planning of the 8th International
• Conference on Herbal Medicine in the
• Caribbean
• Execution of the 8th International
• Conference on Herbal Medicine in the
• Caribbean.

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CHBA Activities in 2005

• Planning and execution of three
  seminars/workshops on Trade Policy, Business
  Development Marketing and Agronomy Handling
• Development of a Herbal Business Magazine to
  promote the Sub-sector.

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CHBA Activities in 2005

• Preparation of Handbook of Selected Herbals
  for Industry Phase II focused on the Taxonomy
  Development of strategic linkages with
  Government, Venture Capital Institutions, Private
  Sector, Reciprocal Associations or Institutions,
  Research Institution.

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Caribbean Herbal Business Association

• Jamaica has developed a National plan for the
  herbal business sub sector with initial focus on
  10 plants.
• A partnership arrangement has been forged between
  the various stakeholder organizations and the
  Government for ensuring the orderly development
  of the Industry.
• CHBA will seek to encourage other countries to
  adopt this approach in order to increase the
  Caribbeans share of the herbal market.

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Issues that need to be managed if expectations
for the herbal industry are to be realized

• Slow action of regulatory bodies on
  certification and standardization in the
  healthcare sector
• Non-harmonized regulatory frameworks among
  Caricom Countries
• Limited activities of Regional trade
  associations in development of the herbal
  industry.

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Issues contd

• Lack of local standards certification
• Need for testing laboratory that could provide
  testing and certification services
• Shortage of specialist skills such as
  Taxonomists
• Specialist help in product development
• Lack of large scale cultivation upon which to
  build sustainable production of raw materials
  production and processing
• Lack of knowledge on safety and efficacy of
  some herbs.

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Conclusion

• The Herbal Business sub-sector can play a
  significant role in the diversification of the
  Caribbean agribusiness and requires the attention
  and support of all stakeholders.
• The regions rich biodiversity provides the raw
  material base for agro-biotechnology applications
  and the development of a new wave of
  agribusinesses within the herbal and functional
  foods sub-sectors.

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CARIBBEAN HERBAL INDUSTRY

• THANK YOU