2 weeks Ago
Novo Farms Ltd last week copped two awards when the Trinidad and Tobago Manufacturers Association held its annual President’s Dinner and Awards Ceremony at the Hyatt Regency in Port of Spain—Innovator of the Year (a tie with Angostura Ltd) and Manufacturer of the Year 2023 (Medium). NOVO Farms Ltd is owned by Novo International. The Innovator of the Year award recognises a company that has successfully developed a new product, innovated on an existing product, or improved manufacturing processes within the last three years.
The recipient must demonstrate how they turned an idea into a market-ready product, says the TTMA. “Both Angostura and NOVO exemplify the qualities of true innovators, consistently pushing boundaries and redefining excellence within their respective industries. Their achievements not only highlight their commitment to product development, but also set new standards for quality and consumer satisfaction,” the TTMA said in making the award.
Consideration for the Manufacturer of the Year 2023 (Medium) “includes the percentage of local content input into the final products, the percentage change in production and exports and very importantly, it takes HSE issues into consideration...
In 2023, NOVO achieved an impressive 130% increase in production, rising from 125,696 kg in 2022 to 289,108 kilogrammes...
NOVO also reported a 126% increase in export production, aided by their participation in TTMA’s Trade Mission. We congratulate them on this remarkable growth and look forward to seeing them compete in the large category in the future,” according to the TTMA. The following is a Q&A with NOVO Farms chairman Glen Ramdhani conducted last week by journalist Anna Ramdass.
Q: NOVO Farms has copped two awards—Manufacturer of the Year 2023 (Medium) and Innovator of the Year 2023. How does receiving these accolades feel, especially since this is your brainchild? A: It is a feeling of gratitude to God for everything He has done for us and for making our vision a reality. I was told it wouldn’t work and that no one would buy it.
Today, by the grace of God, we are in every major retailer, in various export markets, and our products have become must-haves for travelling abroad. Q: You spoke previously about AI in farming. Was that done? What are some of the new innovations at NOVO Farms? A: One of our strengths is our background in technology, which enables us to view the agriculture sector through an innovative lens.
This perspective allows us to develop solutions for the challenges faced in the industry. Our facility operates on a data-driven model, guiding our efforts with the help of AI for forecasting, market analysis, consumer behaviour, competitive intelligence, and manufacturing. We are currently working on some exciting projects that I can’t reveal too much about, but they are aimed at bringing transformational change to the way we consume food.
Q: How is NOVO Farms helping in food security? As you know, this country has a billion-dollar food import bill. A: Our demand for agricultural commodities has grown significantly as we use them to manufacture world-class, high-quality products that comply with FDA guidelines, Health Canada standards, and European market requirements. We work with farmers who are increasing their production capacity and adhering to our strict quality-control processes to meet our demands.
This effort ultimately benefits the country by enabling us to grow more of our own food, thus enhancing our food security. A prime example of this is sweet potato, the sole ingredient used in our home-style Sweet Potato Fries. We consistently supply supermarkets nationwide, where our locally manufactured Sweet Potato Fries are produced to higher standards, feature better quality packaging, and are healthier and more affordable than imported potato fries.
For a one-pound pack of our sweet potato fries, the manufacturer’s suggested retail price (MSRP) is $20. Some supermarkets sell them for between $20 and $24.99, while foreign imported brands retail for $34.
99—$10 to $14 more than our locally manufactured fries. This illustrates how a locally grown and locally manufactured product can be healthier and retail at a lower price than imported alternatives. Our products contain no additives, preservatives or MSG, making them a healthier choice compared to foreign brands.
This is a clear example of how we are contributing to lowering our food import bill. Q: Are there future plans for expansion in other jurisdictions? A: We are currently in discussions with key stakeholders in Barbados and Guyana to build a facility that will align with our overall strategy for the region. Q: Can you provide any data as to how many farmers access the farms? What’s the profit margin? A: We collaborate with over 60 farmers, contracting a diverse group for each ingredient we use.
This approach allows us to maintain positive product margins while ensuring that our customers can access our products at an affordable price. Our focus is on manufacturing healthier, high-quality products that remain affordable for everyone. Q: Will there be new products on stream? A: Our R&D team is currently very busy.
Our new products will be available in December and the first quarter of 2025. These amazing products will make you wonder how they pulled that off! Q: What have been the best sellers? A: All our products sell very well, and we thank God for that. However, the fastest movers are the Instant Tomatoes & Baigan Choka, Instant Corn Soup, and our recently launched Instant Caribbean Oil Down.
Based on its current trend, we anticipate that the Instant Caribbean Oil Down will soon take over the number one spot. About NOVO NOVO Farms, a multimillion-dollar, state-of-the-art agro-processing facility has started production of its LIFE brand of products, with the products already in supermarkets. LIFE offers a wide selection of chilled machine-cut and thoroughly washed vegetables, salads and frozen foods with its emphasis on encouraging healthy eating.
All LIFE food products are naturally grown and sourced right here in T&T. In the September 22 edition of Express Business, technology entrepreneur Glen Ramdhani said he had invested $60 million in establishing the ultra-modern agro-processing facility, which is located at the Point Lisas Business Park. Four years ago, Ramdhani established NOVO Farms, setting up an agri-tech start-up organic farm, that was successful in growing foreign crops using a trademark technology platform to replicate the temperate climatic conditions right here in Trinidad and Tobago.
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