Sustainable Export Oriented Crop Production

Sustainable Export Oriented Crop Production

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Sustainable Export Oriented Crop Production
Sustainable Export Oriented Crop Production
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SectorMost major industry classification systems use sources of revenue as their basis for classifying companies into specific sectors, subsectors and industries. In order to group like companies based on their sustainability-related risks and opportunities, SASB created the Sustainable Industry Classification System® (SICS®) and the classification of sectors, subsectors and industries in the SDG Investor Platform is based on SICS.
Food and Beverage
Food and Agriculture
Business Model Description

Set up distilleries and produce high-value-added products from Seychelles tropical cash crops, including cinnamon, vanilla, and copra, for dietary and medicinal use. Extract, distillate and distribute pure essential oils from locally available sources such as cinnamon bark and cinnamon leaf that have potential forward linkages to higher value-added products such as soaps, perfumes or pharmaceutical products.

Expected Impact

Enhance regional integration with sustainable industrial capacity and growing export volumes, amplify income-generating activities for farmers, and mitigate current account deficit.

How is this information gathered?
Updated: 6 Jul, 2023 Date of Production: 1 Feb, 2023
Seychelles
Indicative ReturnDescribes the rate of growth an investment is expected to generate within the IOA. The indicative return is identified for the IOA by establishing its Internal Rate of Return (IRR), Return of Investment (ROI) or Gross Profit Margin (GPM).
> 25% (in GPM)
Investment TimeframeDescribes the time period in which the IOA will pay-back the invested resources. The estimate is based on asset expected lifetime as the IOA will start generating accumulated positive cash-flows.
Short Term (0–5 years)
Market SizeDescribes the value of potential addressable market of the IOA. The market size is identified for the IOA by establishing the value in USD, identifying the Compound Annual Growth Rate (CAGR) or providing a numeric unit critical to the IOA.
< USD 50 million
Average Ticket Size (USD)Describes the USD amount for a typical investment required in the IOA.
USD 1 million - USD 10 million
Direct ImpactDescribes the primary SDG(s) the IOA addresses.
Decent Work and Economic Growth (SDG 8) Industry, Innovation and Infrastructure (SDG 9) Partnerships For the Goals (SDG 17)
Indirect ImpactDescribes the secondary SDG(s) the IOA addresses.
Gender Equality (SDG 5) Responsible Consumption and Production (SDG 12) Life on Land (SDG 15)

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Sector Sources
  • 1) FAO. 2021. Transforming agriculture in Africa’s Small Island Developing States. https://www.fao.org/3/cb7582en/cb7582en.pdf 2) FAO. 2019. Climate-Smart Agriculture in Seychelles. https://cgspace.cgiar.org/bitstream/handle/10568/106073/CSA%20in%20Seychelles.pdf 3) Ministry of Fisheries and Agriculture (MOFA). 2015. Seychelles National Agricultural Investment Plan (SNAIP 2015-2020). http://www.mofa.gov.sc/downloads/seychelles-national-agricultral-investment-plan.pdf 4) Seychelles Fishing Authority. 2018. Seychelles Fishing Authority Strategic Plan 2018-2020. https://aquadocs.org/bitstream/handle/1834/14808/SFA%20Strategic%20Plan%202018%20-%202020.pdf?sequence=1&isAllowed=y 5) Ministry of Fisheries and Agriculture. 2019. Fisheries Comprehensive Plan. http://www.mofbe.gov.sc/wp-content/uploads/2021/09/Fisheries-Comprehensive-Plan.pdf 6) Government of Republic of Seychelles. 2013. Seychelles National Food Nutrition & Security Policy. http://www.mofa.gov.sc/downloads/seychelles-national-food-nutrition-security-policy.pdf 7) Ministry of Fisheries and Agriculture. 2019. Seychelles Fisheries Sector Policy. http://www.mofa.gov.sc/downloads/Seychelles%20Fisheries%20Sector%20Policy%20.pdf 8) Ministry for Finance, Economic Planning and Trade. 2021. Budget 2022. https://www.statehouse.gov.sc/uploads/cabinet_downloads/126_SXUXuA3m.pdf 9) UNDP. 2021. Empowering the Private Sector to Diversify Seychelles’ Economy - Discussion Paper. https://www.undp.org/mauritius-seychelles/publications/empowering-private-sector-diversify-seychelles%E2%80%99-economy-discussion-paper 10) Ocean Health Index. 2021. Seychelles. https://oceanhealthindex.org/regions/seychelles/ 11) Ministry for Employment, Immigration and Civil Status, ILO. 2018. Seychelles Decent Work Country Programme 2019-2023. https://www.ilo.org/wcmsp5/groups/public/---ed_mas/---program/documents/genericdocument/wcms_674580.pdf 12) Ship Technology. 2019. Roundtable: the women fighting for equality in maritime. https://www.ship-technology.com/analysis/women-in-maritime/
IOA Sources
  • 13) Seychelles Agricultural Agency. 2020. Seychelles Agricultural Agency Strategy. http://www.saa.gov.sc/images/Documents/SAA-2020-Strategy--Final.pdf 14) Seychelles Nation. 2022. Seychelles' government tenders out land for investors in cinnamon processing. http://www.seychellesnewsagency.com/articles/16815/Seychelles'+government+tenders+out+land+for+investors+in+cinnamon+processing 15) The Seychelles Fishing Authority. 2017. The Seychelles Mariculture Master Plan. http://www.mofbe.gov.sc/wp-content/uploads/2021/09/The-Seychelles-Mariculture-Master-Plan.pdf 16) Delegation of the European Union to the Republic of Mauritius and to the Republic of Seychelles. 2022. Trade Success No.13: Bristol Enterprises Limited. https://www.eeas.europa.eu/delegations/mauritius/trade-success-no13-bristol-enterprises-limited-epa-accompanying-revival_en?s=110#:~:text=Bristol%20Enterprises%20Limited%20specialises%20in,incense%2C%20coconuts%20and%20essential%20oils. 17) Seychelles Nation. 2020. A Xmas gift with the scent of Seychelles: perfume from the coco de mer nut. http://www.seychellesnewsagency.com/articles/14075/A+Xmas+gift+with+the+scent+of+Seychelles+perfume+from+the+coco+de+mer+nut 18) UNDP Project Team stakeholder consultation undertaken with Geffroy's Farm on May 13, 2022. 19) UNDP Project Team stakeholder consultation undertaken with Globarom on May 12, 2022. 20) UNDP. 2020. An Assessment of the Socio-Economic Impact of COVID-19 in Seychelles. https://www.undp.org/africa/publications/assessment-socio-economic-impact-covid-19-seychelles 21) Government of Seychelles. 2019. Seychelles National Development Strategy, 2019-2023. http://www.finance.gov.sc/uploads/files/Seychelles_National_Development_Strategy_2019_2023.pdf 22) UNDP. 2020. An Assessment of the Socio-Economic Impact of COVID-19 in Seychelles. https://www.undp.org/africa/publications/assessment-socio-economic-impact-covid-19-seychelles 23) FAO. 2020. Acquisition of Land in the Public Interest Act. https://www.fao.org/faolex/results/details/en/c/LEX-FAOC115468/ 24) Ministry of Finance, Trade, Investment & Economic Planning. 2020. Voluntary National Review 2020 Republic of Seychelles. https://sustainabledevelopment.un.org/content/documents/26382VNR_2020_Seychelles_Report.pdf 25) National Bureau of Statistics. 2021. Seychelles in Figures. https://www.nbs.gov.sc/downloads/seychelles-in-figures-2021-edition/viewdocument 26) Seychelles Investment Board. 2017. Agriculture Comprehensive Plan. https://investinseychelles.com/downloads/agriculture-documents/agriculture-comprehensive-plan/viewdocument/55 27) SeyLII. 2022. Acquisition of Land in the Public Interest Act, 1996. https://seylii.org/akn/sc/act/1996/9/eng@2020-06-01 28) ILO. 2014. Seychelles Agricultural Agency Act, 2009. https://www.ilo.org/dyn/natlex/natlex4.detail?p_lang=en&p_isn=81514&p_count=96608 29) FAO. 2019. Environment Protection Act 2016. https://leap.unep.org/countries/sc/national-legislation/environment-protection-act-2016-no-18-2016#:~:text=An%20Act%20to%20provide%20for,international%20commitments%20including%20the%20prevention%2C 30) Development Bank of Seychelles. 2022. Agriculture Development Fund (ADF) Scheme. https://www.dbs.sc/product-loans/agriculture-development-fund-adf-scheme 31) Seychelles Investment Board. 2022. Agriculture - Taxes and Incentives. https://investinseychelles.com/investors-guide/investor-resources/seychelles-tax-guide/agriculture-taxes-and-incentives 32) Seychelles Nation. 2022. Seychelles still considering large-scale agriculture projects on outer-islands. http://www.seychellesnewsagency.com/articles/17004/Seychelles+still+considering+large-scale+agriculture+projects+on+outer-islands 33) Seychelles Nation. 2019. Seychelles' long relationship with cinnamon summarised in 6 historical facts. http://www.seychellesnewsagency.com/articles/10536/Seychelles%27+long+relationship+with+cinnamon+summarised+in++historical+facts 34) JingLi, ZelieZhang et al. 2018. Exploring the socioeconomic and ecological consequences of cash crop cultivation for policy implications. https://www.sciencedirect.com/science/article/pii/S026483771731654X 35) UN, IFAD. 2016. Why are rural youth leaving farming? https://www.un.org/youthenvoy/2016/04/why-are-rural-youth-leaving-farming/ 36) The Ministry of Finance, Trade, Investment and Economic Planning. 2020. Policy Paper on Economic Activities Reserved for Seychellois. https://www.investinseychelles.com/component/edocman/reserved-economic-activities-policy-reap-_april-2020/download?Itemid=0 37) Ministry of Investment, Entrepreneurship, and Industry. 2022. Seychelles Investment (Economic Activities) Regulations, 2022. https://www.gazette.sc/sites/default/files/2022-07/SI%2076%202022%20-%20Seychelles%20Investment%20%28Economic%20Activities%29%20Regulations%202022.pdf 38) World Bank. 2017. The Republic of Seychelles Systematic Country Diagnostic. Washington, DC: World Bank. https://openknowledge.worldbank.org/handle/10986/27559