Nutrimix CEO : 150m feed plant to boost local economy Trinidad and Tobago Newsday

The Vision Behind the Project

The project is a significant milestone in the Nutrimix Group’s history, marking a major expansion into the pet food market. According to CEO Ronnie Mohammed, the plant will be a state-of-the-art facility that will cater to the growing demand for premium pet food in the region.

He also mentioned that the project would create jobs for local residents and stimulate economic growth in the region.

The Construction Phase: A Catalyst for Economic Growth

The construction phase of the project is expected to have a significant impact on the local economy, creating jobs and stimulating growth in the region. This phase is crucial in bringing the project to life, and its effects will be felt for years to come.

Job Creation and Economic Growth

The construction phase will create jobs for local residents in various fields, including civil, electrical, and mechanical engineering, construction, fabrication, and millwright. These jobs will not only provide employment opportunities but also contribute to the local economy, generating revenue and stimulating economic growth. The influx of workers and the resulting economic activity will have a positive impact on the region, improving the overall quality of life for residents.

The Benefits of Proximity to the Port of Point Lisas

The site’s location near the Port of Point Lisas presents several advantages for the company. Some of these benefits include:

Enhanced procurement efficiencies

Increased export opportunities

Improved logistics and transportation

Access to a skilled workforce

Reduced costs associated with transportation and storage

Logistics and Transportation

The proximity to the Port of Point Lisas allows the company to streamline its logistics and transportation processes.

The Rise of Pet Food Imports in Trinidad and Tobago

Trinidad and Tobago, a small island nation in the Caribbean, has seen a significant increase in the importation of dog and cat food over the past two years. According to the Ministry of Trade and Industry, the country imported a substantial amount of animal food, with a total value of US$35 million between 2022 and 2023.

The Growing Demand for Pet Food

The demand for pet food in Trinidad and Tobago has been on the rise, driven by the increasing popularity of pets among the local population. Many Trinidadians and Tobagonians have adopted pets as companions, and as a result, the demand for high-quality pet food has grown significantly. This trend is expected to continue, with the global pet food market projected to reach US$150 billion by 2028. Key factors contributing to the growing demand for pet food in Trinidad and Tobago include: + Increasing pet ownership rates + Growing awareness of the importance of nutrition for pets + Availability of a wide range of pet food products

The Impact of Pet Food Imports on the Economy

The importation of dog and cat food has had a significant impact on the economy of Trinidad and Tobago. The country’s importation of animal food far exceeded what it exported, resulting in a trade deficit.

The market is expected to continue growing, driven by increasing demand for animal feed globally, particularly in emerging markets.

The Rise of the Global Animal Feed Market

The global animal feed market has experienced remarkable growth over the past few years, driven by increasing demand for animal feed globally. This growth can be attributed to several factors, including the rising global population, the expansion of the livestock industry, and the increasing demand for protein-rich feed.

Key Drivers of the Market

Increasing global population: The global population is projected to reach 7 billion by 2050, leading to an increased demand for animal feed to support the growth of the livestock industry. Expansion of the livestock industry: The livestock industry is expanding globally, with countries like China, India, and Brazil emerging as major players. This expansion is driving the demand for animal feed to support the growth of the industry.

The Top Export Markets for the US

The United States is a significant player in the global export market, with a diverse range of products being shipped to various countries around the world. According to recent data, the top three greatest export potential markets for the US are the US, Panama, and Chile.