The Bahamas Agriculture and Marine Science Institute (BAMSI) has confirmed it is revamping its business model by exiting the food retail sector to focus solely on wholesale activities.

The institute, in a statement issued yesterday, said the move will boost its economic sustainability by cutting operational costs and increasing revenues. It added that the closure of its retail centre, which sells locally grown organic produce, will strengthen its financial position.

Tennyson Wells, BAMSI’s president and chairman of the board, said its changed outlook resulted from the Government’s determination that the Institute must be financially self-sufficient long-term.

“Going forward, BAMSI’s new focus will be strengthening the academic arm of the institute so that it can fulfill its mandate to provide scientific research covering a wide cross section of areas, including soil science, fisheries, produce and small ruminants to the Bahamian farmer,” he said. “As the recipient of cutting-edge research and innovative technologies, farmers will be able to bring best quality produce to the Bahamian market on a more consistent basis.”

Mr Wells said the North Andros facility is also looking to grow its student population by tapping into regional and international markets, plus forming partnerships with international universities, and will continue to provide practical experience for students and farmers.

BAMSI’s new direction is a three-pronged approach where whatever is grown on its farm in North Andros will be used to feed students at the institute. The students themselves will have played a key role in producing the food as they participate in farm skills and other practical training courses. The institute is also preparing to expand its culinary department by introducing personnel with a background in vegetarian and organic food preparation, in an effort to capitalise on the expanded menu.

The remaining produce will be sold directly to wholesalers, hotels and restaurants, which is where BAMSI expects to see an increase in its revenue. A critical component is consistency, as BAMSI must be able to accurately predict the amount of produce that will be harvested and when.

Clifton Fernander, perishable buyer for Super Value, said: “We are committed to buying local produce. If [BAMSI] can provide us with a listing of items that you will have either the week of or the week before so we can forecast, once [BAMSI] keeps it that way we will support.”

He backed BAMSI’s new focus, which removes it from the retail sector and concentrates on the wholesale market and a business-to-business model.

Speaking about Super Value’s ability to purchase locally sourced items, Mr Fernander said up until 2014 the supermarket chain had been able to purchase higher-quality produce on a consistent basis. “I think the last five years we have not been getting the quantities of different types of produce grown, and it has dwindled down to only a few,” he said.

“Since BAMSI came into play, they have taken the role of trying to produce different types of products other than the normal types such as tomatoes, cabbages, etc. BAMSI has expanded on the number of different types of produce grown here in The Bahamas, like broccoli, zucchini, cucumber, squash and cauliflower. I’d like to see them continue doing that. We have noticed that the quality of produce coming in through BAMSI is pretty good.”