By Joy-Ann Gill
BRIDGETOWN, Barbados, (GIS) – With Barbados determined to see exports in rum climb to over a billion US dollars by 2030, minister in the ministry of finance, Ryan Straughn, has made it clear that Mount Gay Distilleries and rum have the potential to help the country achieve this goal.
Speaking yesterday at Mount Gay Distilleries, in St Lucy, where The Cognac Cask Expression – The Eighth Edition – from the Master Blender’s Collection, was launched, the Minister explained to clients and others at the event, how this could be attained.
He said: “We have determined that, as part of the Barbados Economic Recovery Programme, rum, in particular, which has about US $100 million a year, in exports, that we wanted to push that to a US $1billion, by 2030. And therefore, this evening is an expression as to how we can utilise innovation and partnership to help Barbados to be able to achieve something “quite spectacular.”
While he noted that Barbadians love rum and also drink copious amounts of it, Straughn also addressed how else they could become engaged. He said: “But, there is an opportunity here that allows for ordinary Barbadians to be able to invest in such a venture, because it will require significant investment, if we are going to meet that milestone. It is not just about paving and leading the way, but we want to ensure that the rum… includes Barbadians as we achieve this quite impressive objective.”
Noting that the reality was that rum had to age just like bonds on the financial market mature, he stressed: “And, therefore the conversation we have to have with Bajans is how do you participate in innovations and investments like these that allows ordinary citizens to be able to purchase a barrel of rum in your name, it matures, in four years, five years, 12 years, whatever the period is, and on maturity, you get a share in the Return on Investment that entities like Mount Gay, will be able to usher in. I think that if we are able to break it down to ordinary citizens to understand that they too can participate in what is a very successful story, which is really the story of Barbados; the story of rum is the story of Barbados, and the story of Barbados is the story of rum.
“And, therefore, as we have just commemorated 400 years since the Landing of the Olive Blossom in Barbados. Mount Gay has been established since 1703, there is history here, which we must now leverage to the benefit of Barbados, partnering with our French team… because, having bought Mount Gay in 1989, you are now officially Bajan. And, therefore, the same pride that the French has with cognac and Champagne, Barbadians should feel that same pride with respect to rum. And therefore, I think it’s a good partnership, to be able to leverage something which says ‘this is class; this is excellent; this is what a premium drink tastes like; looks like’.”
The minister, who praised Mount Gay’s well-maintained facilities, also emphasised that their story could be told with respect to the investments made in Barbados and the legacy which must now be leveraged “to pay homage to those who have gone before, but to give the future generations the opportunity to participate and be a part of the very success that you have built here.”
Meanwhile, Mount Gay’s managing director, Antoine Couvreurs, in his remarks, about the reveal of The Cognac Cask Expression, told patrons:
“I am very excited to have the opportunity to taste how our exceptional Mount Gay rums have evolved after being aged in barrels of Remy Martin Cognacs.”
While acknowledging it was masterfully created by Trudiann Brancker and her team, he added it would be available in 70cl from select premium retailers here in Barbados as well as in the Caribbean, USA, UK, Europe and Asia for USD 210.
“It is my expectation that this new Expression will be just as successful as the Seven before it…” Couvreurs added.
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