BAHAMAS: Gladstone Road Pop-Up Market Has Appreciable Rise in Earnings

#Nassau, November 21, 2018 – Bahamas – Michael Foulkes, Executive Chairman, Bahamas Agricultural & Industrial Corporation (BAIC) explained that the Pop-Up Farmer’s Market on Gladstone Road has had appreciable rise in earnings over the past months, after a slow start.

“On Saturday, 27^th January 2018, we launched the first Pop-Up Farmers Market at our Gladstone Road site.  We have been there from 8am to 3pm as we have always been to date, and only took in $1,111.63 but we were not discouraged,” Mr. Foulkes said during a press conference at BAIC headquarters, November 20, 2018.

He said in February 2018, they took in only $7,727.86 over the four Saturdays in that month.

However, the Executive Chairman noted that in September, they took in $39,939.00 and from January to October 31, 2018, they have taken in a total of $230,566.42.

“About 73 per cent of that amount represents direct payments to Family Island farmers of approximately $176,629.84.  Further, based on our plan for the remainder of the year, we expect that our total sales will be in excess of a quarter of a million dollars.”

He added, “In terms of the Corporation’s finances more broadly, we are pleased to announce that through the first nine months of 2018 on a cash basis, the loss has been just under $12,000.  Compare that with the loss for the same period of 2017, which was over $1,042,000.00.”

Mr. Foulkes said the remaining pop-up locations for 2018 would include:

• Friday, November 30 – The University of The Bahamas
• Saturday, December 1 – Seabreeze
• Sunday, December 9 – Seventh Day Adventist Church (location to be determined)

The Pop-Up Market will continue operations every Saturday at Gladstone Road through to and including Saturday, December 8.  He explained that there will be a Customer Appreciation Day where customers will get a five per cent discount on all items based on regular prices throughout the year at Gladstone Road, December 8.

There will also be a Farmers Appreciation Day on Thursday, November 22, when there will be a luncheon held for the farmers.

Mr. Foulkes said, “We are looking forward to an even more successful Pop-Up Farmers Market in 2019 as we plan to commence our second year in January; and we anticipate greater success for the entire Corporation.”

He also announced that after a three-year hiatus, BAIC will again host its Art and Craft Show, commonly known as “Authenti-City” in Freeport, Grand Bahama, at the BAIC Office, Alcester Road and East Sunrise Highway.  The event will be under the theme, “Bahamian Tings,” Saturday, November 24, 2018 from 9am to 8pm.

Mr. Foulkes said, “The purpose of the Art and Craft Show is to bring together artisans and artists throughout Grand Bahama to create a ‘Craft Village’ highlighting indigenous Bahamian products.”

By Llonella Gilbert

Release: BIS

Photo Caption:  Michael Foulkes, Executive Chairman, Bahamas Agricultural & Industrial Corporation (BAIC) gives the dates for the remaining Pop-Up Farmer’s Markets during a press conference at BAIC headquarters, November 20, 2018.  Pictured from left: Bishop Gregory Collie, Deputy Chairman; Mr. Foulkes; Debbie Strachan, Senior Deputy General Manager; and Kervan Culmer, Financial Controller.  

(BIS Photo/Patrick Hanna)