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Minister of State in the Ministry of Economic Affairs, Empowerment, Innovation, Trade, Industry and Commerce, Patrick Todd
The local rum industry continues to reap significant dividends for Barbados, by recording more than $458 million in export sales last year – a creditable performance for the industry despite the ongoing economic crisis.
Minister of State in the Ministry of Economic Affairs, Empowerment, Innovation, Trade, Industry and Commerce, Patrick Todd, made this announcement, while addressing Mount Gay Distilleries Limited’s Brand Showcase. The event was held last Tuesday night at Hilton Barbados.
Citing statistics on the industry, he revealed that whereas domestic exports for rum stood at $63 million for the two year period 2007-2009, the industry’s multi-million dollar performance last year had pushed its share of exports to 85 per cent.
Mr. Todd noted: "I am confident that Mount Gay Distilleries Limited, will stay on track towards achieving its goal of being the genuine premium rum from the Caribbean, deeply rooted in its heritage, and proud to be the rum that invented rum."
Of equal importance he added, was the International Wine and Spirits Review, which indicated that Mount Gay enjoyed a 50 per cent stake in the local market share.
Despite these rave reviews, Mr. Todd lauded the company for not only being a dominant player in the international market, but, also, forging stronger links with over 70 countries worldwide.
"I am told that Mount Gay has formed new links with Belgium and Germany where new distributing companies have opened. It is also my understanding that you have been successful in re-entering the markets of Italy and Mexico, where the brand was absent for a few years."
The Minister of State also praised Mount Gay Distilleries Ltd for its public spiritedness by sponsoring 120 regattas around the globe and for capturing several prestigious awards for its brands.
In light of this, Mr. Todd pledged government’s continued assistance to the sector. "My Ministry continues to be supportive of the rum sector’s development, inclusive of programmes which seek to expand demand for Barbados’ rum in the local and international markets," he declared.??jwilson@barbados.gov.bb