“YES – we have natural resources that are in demand all over the world.  YES – as a people - we are innovative, resilient and ready to do what it takes to get back on our feet.  YES – We have Brand Jamaica.” Dr. Audia Barnett, Executive Director of the Scientific Research Council,Jamaica.

Jamaica’s Scientific Research Council (SRC) held an exposition on November 3, 2009, on Lemon Grass as one of several plants indentified with nutraceutical properties.  Dr. Audia Barnett, Executive Director of the SRC opened the evening at the Devonshire, Devon House, Kingston, Jamaica, to a packed room representing a wide cross-section of investors – agro-processors, farmers, entrepreneurs and the curious.  The event aimed to highlight investment possibilities based on research developments in Lemon Grass.  EXIM Bank’s Managing Director, Pamella McLean and members of the Bank’s marketing team were on hand to respond to questions by potential investors on how to access funding for their projects. 
In a paper written by Dr. Barnett, and published on the SRC’s website, she explained that “Lemon Grass, otherwise known as Fever grass in Jamaica, occurs locally as two main varieties – the short fluffy variety and the tall willow type.  Each has excellent prospects due to the presence of components which are valuable in the food, household and personal products industries.  Products on the market range from beverages and cosmetics to insect repellants.  It is a hardy, easy-to-grow, versatile grass that proliferates on most soil types and is suited for our ‘sugar lands’.  It has been used for centuries in the eastern countries for its soothing, calming and refreshing properties.  Claims of its therapeutic value are rife and as such demand internationally is spiraling.”
Investment opportunities were on display at the Expo, in the form of lemon grass shower gels and body lotions both for personal care use at home and for the spa industry.  Also on display were a variety of lemon grass teas packaged and ready for distribution. Lemon grass drinks and varieties of lemon grass teas were available for tasting.
In her speech, Dr. Barnett gave a brief review of investment possibilities in Lemon Grass and encouraged those present to invest in Jamaica:  “YES – we have natural resources that are in demand all over the world.  YES – as a people - we are innovative, resilient and ready to do what it takes to get back on our feet.  YES – We have Brand Jamaica.”
EXIM Bank is able to provide financing to companies wishing to invest in Lemon Grass and the production of its derivative value-added products. Financing can be used to purchase equipment, upgrade facilities or for working capital.  The current interest rate on local currency loans is 12% p.a.  Foreign currency loans are also available for exporters or foreign exchange earners.    Potential investors are encouraged to speak with an EXIM Bank Credit Analyst prior to submitting an application, otherwise, interested companies may start their application for an EXIM Bank loan online at www.eximbankja.com
Lemon grass is not yet commercially grown in Jamaica.  The oil is used for preparation of aromatherapy products, candles, soaps and insect repellent sprays.  Western Europe and North America are the main buyers of lemon grass oil, with North American representing 33% of global demand, and Japan 10%.