Food & Food Security Webinar

On July 10^th 2025, Fuad Abubakar Mohammed, Head of Ghana Cocoa Marketing Company UK and David Forgenie, Agricultural Economist working with the government of Trinidad and Tobago participated in a lively discussion on the 4^th Edition of ACSIS EXCHANGE webinar on Food & Food Security – a critical dialogue on trade, sustainability, and diaspora-led impact.

The discussion centred on the significant food import dependence in African and Caribbean countries, where a substantial portion of food is sourced from abroad.

Fuad Mohammed Abubakar highlighted that despite having the necessary resources for local agricultural development, a lack of vision is a major barrier. By focusing on staple crops like corn and soybeans, these regions can create industries for animal feed and cooking oil, while also tapping into global markets, particularly in the vegan sector.

Trending

Miss Trinidad and Tobago UK pageant goes global

The call to action emphasized the need for governments and investors to prioritize agricultural capabilities to enhance local production.

An analysis of the cocoa sector revealed a remarkable 820% price increase projected for 2024, underscoring the potential for growth. Although African and Caribbean countries are significant cocoa producers, they capture only about 7% of the global value chain, with most profits going to Western retailers and manufacturers.

The discussion stressed the importance of developing processing and manufacturing capabilities within these regions, as well as exploring opportunities in cocoa derivatives and artisanal chocolate production.

This shift could enable local producers to secure a larger share of the cocoa value generated.

The financial strength of the African and Caribbean diaspora was also discussed, with remittances amounting to $100 billion for Africa and $20 billion for the Caribbean annually.

Fuad Mohammed Abubakar argued that these funds could be strategically invested in agriculture, which offers a potential return on investment of 15 to 25% annually.

The conversation highlighted the need to reframe challenges in the food sector as opportunities for economic growth, encouraging the diaspora to play an active role in driving change through investments.

The session included a presentation by David Forgenie, an Agricultural Economist, working with the government of Trinidad and Tobago who focused on food import demand and trade policy in the Caribbean. He noted that the region’s heavy reliance on food imports creates vulnerabilities, particularly during price shocks, as evidenced during the COVID-19 pandemic.

The discussion also touched on strategies to decrease food imports by enhancing local production and implementing climate-smart agriculture. The importance of government support for agricultural development and the need for a bold vision were emphasized, alongside the critical data gaps that hinder effective policy-making in the region.