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Project Development
Testimonial

Dadrick Henry
Project Background


 

Mr. Dadrick Henry is a registered farmer and butcher and was interested in starting a piggery operation. He was informed of our organization by the NPCB Manager who urged him to use our services. Mr. Henry is a police officer in the Jamaica Constabulary Force and a farmer at heart. This business venture is based off his love for the industry as well as the farming exposure he received from his father during his formative years.

 

Project Summary
The project was established with a starting herd of 15 sows to grow to 50 sows over the first 4 years of the project. With the launch pad of 15 sows, the investor will through adding 10 gilts annually, grow the operation to a 50 sow unit. The farm will utilize the grow out technique where the piglets produced are reared over a 5 month period and sold at a market weight of no less than 75 kg (165 lbs). The farm site is located in Treadways, Linstead and is a part of the property leased from a relative for the purpose of farming.

 

The Role of the Agro-Invest
The Agro Invest is the business facilitation arm of the Ministry and has overall responsibility for investment promotion and facilitation, property management, project and market development.  The Agro-Invest through its Project Development Department (PDD) converted Mr. Henry’s business idea to a bankable sustainable project.

 

Results of the intervention

  • Loan Approval: May 2010 J$2.1M
  • Disbursement: June 2010- Disbursement to date J$1.66M
  • Works done:
    • Purchased 9 F1 gilts from improved genetic stock, 11 weaners and 1 boar.
    • Constructed piggery housing units that includes; breeding and holding, farrowing and nursery and a finishing unit.
    • Constructed waste pit and a small slaughter area.
  • Equipment procured:
    • Water tanks
  • Employment:
    • Based on the BP: 1 permanent worker
    • Actual: 1 permanent worker

 

Current stage

  • 90% completion on piggery unit
  • 60% completion on storage facility
  • 21 animals purchased
  • Waste pit completed

 

Success of markets
The market contract was confirmed; however he has not started to supply them as yet. His current weaner amount stands at 11 and will reach market weight in 3-4 months.

 

Revenue
The investor has successfully constructed the piggery unit and its associated facilities. He will be on track with the projected financial indicators, once the animals are ready for sale. Based on the 11 weaners that will be ready for the market in February 2011, he will have a revenue stream of approximately J$180,000.00 from that production set. He will procure the additional 34 animals which will allow him to realize the additional J$560,000.00 to correspond with the projections of the BP. The F1 Gilts will be ready for breeding by February 2011 which will allow for realization of revenues from the sows.  The animal breakdown is: nine (9) F1 gilts, 1 boar and 11 weaners.

 

It is recommended that the investor purchases the additional breeding stock as well as the remaining weaners. This will enable the project to generate more cash flow and allow for the final tranche of funds to be disbursed by the NPCB.


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