Caribbean News
No shortage of Jamaican produce says Minister
#KINGSTON, April 1 (JIS): The Ministry of Industry, Commerce, Agriculture and Fisheries is assuring that there is no shortage of local agricultural produce to supply the domestic market.
Speaking at a digital press briefing on Tuesday (March 31), Minister without Portfolio in the Ministry, Hon. J.C. Hutchinson, said there are adequate supplies of meat, eggs, and fresh food, including vegetables, fruits and tubers.
“Our farmers are on the job. They have not stopped working and [as such] there are plentiful supplies,” he said.
Mr. Hutchinson informed that egg production is approximately 22 per cent higher over last year, noting that the country is averaging approximately 15 million eggs per month, which is adequate to supply normal demand.
He said this level of production is expected to be maintained until the end of May.
Additionally, Mr. Hutchinson said consultations with pig industry stakeholders indicate that there are adequate supplies of pork in the marketplace and sufficient animals in the system for slaughter for the next few months, pointing out that “this will be adequate to meet normal demand for this product”.
He further said chicken meat production will average approximately 2.7 million kilogrammes per week for the next nine weeks, up to early May 2020.
“At this time, the industry is not seeing any immediate factors that will cause any significant disruption in its capacity to continue production beyond this point or to prevent the conversion of the chickens now in the field and being hatched in the next three weeks from being processed,” he said.
The Minister informed that chicken represents approximately 80 per cent of the ratio meat protein supplied to and consumed by local consumers.
Mr. Hutchinson said efforts will be made to reduce issues of bottlenecks and disruption in distribution if and when these arise.
He added that the Ministry is working with the private sector to rationalise and manage excess production of meats and eggs to ensure continued support to local industries and increased demand and movement of these products.
Mr. Hutchinson advised that the Ministry is working with stakeholders in the various value chains to ensure that food supplies are maintained and inventories are being monitored.
Additionally, he informed that the Rural Agricultural Development Authority (RADA) has conducted an assessment of the country’s supply of selected critical agricultural produce and is reporting that, by all indications, vegetables, condiments, fruits, roots and tubers are and will be in normal supply.
“Vegetable production remains in good supply, with the exception of the exotics (broccoli and cauliflower) and coloured bell peppers. Vegetables will remain in good supply for the period March to May.
“Fruits available are cantaloupe, melon, papaya, pineapple, banana, plantain, Otaheite apple, star apple and mango. Fruits will be in their usual abundance for the reporting period of March to May,” he said.
Meanwhile, Mr. Hutchinson is urging Jamaicans to utilise local produce and products that are available and may end up being in excess supply.
“RADA is also encouraging the public to consume these produces to boost the immune system against the COVID-19 virus and to reduce food loss and waste at this time when essential vitamins and nutrients are needed to guard against COVID-19,” he said.
JIS News by CHRIS PATTERSON
By Deandrea Hamilton | Editor
September 28, 2026 – Wall Street initially flinched at the $3-billion handshake. But in a matter of days, it was smoother sailing.
Perhaps the bigger Caribbean business story is not what Sandals Resorts International is getting from the deal. It is who is writing the
cheque — and what that says about what Gordon “Butch” Stewart built.
As reports of Royal Caribbean Group’s Sandals deal circulated Tuesday, RCL shares plunged 6.14 percent from Monday’s $250.25 close to $234.89, on sharply elevated trading.
When the agreement became official Wednesday — approximately $3 billion for a 50 percent equity interest in Sandals and Beaches Resorts — shares slipped another 1.95 percent to $230.30 and touched $222.22 intraday. Investors were digesting both the size of the investment and committed debt financing secured through Morgan Stanley.
But by Thursday, RCL rebounded 3.77 percent, with shares continuing their recovery Friday to finish the week around $243. Analysts were also looking ahead: JPMorgan reportedly raised its RCL price target from $345 to $394, while Citi placed the company on a 90-day positive catalyst watch.
And just who is RCL?
Royal Caribbean Group is a global vacation giant, publicly traded on the New York Stock Exchange with a market value of roughly $65 billion. Its portfolio includes Royal Caribbean International, Celebrity Cruises and Silversea, alongside private destinations and an
expanding vacation platform.
So when a company of that scale commits $3 billion for only half of Sandals and Beaches Resorts, the transaction puts a striking financial marker on one of the Caribbean’s greatest home-grown hospitality success stories.
The deal, expected to close in early 2027, creates a 50-50 partnership with the Stewart family and takes Royal Caribbean deeper into the all-inclusive resort business.
Butch Stewart started Sandals in Jamaica in 1981 believing a Caribbean company could compete with the world’s best.
Forty-five years later, one of the world’s biggest vacation companies is prepared to pay $3 billion just to own half of what he built.
Now that’s the handshake that does more than seal a deal — it cements a legacy.
Caribbean News
Royal Caribbean Group and Sandals Resorts Announce Landmark Partnership to Accelerate Their Leading Vacation Experiences
Royal Caribbean Group Investment to Advance Sandals and Beaches’ Growth and Broaden the Group’s Vacation Portfolio
Montego Bay, Jamaica and Miami, September 24, 2026 – Royal Caribbean Group (NYSE: RCL) and Sandals Resorts today announced the signing of an agreement to form a partnership in the all-inclusive resort space with a 50% investment from Royal Caribbean Group. Building on Sandals and Beaches Resorts’ more than four decades of leadership in Caribbean hospitality, the joint venture will create new opportunities for continued resort growth while broadening the experiences across Royal Caribbean Group’s vacation platform.
The partnership brings together two of the travel industry’s most celebrated vacation companies, pairing Sandals and Beaches’ all-inclusive resort expertise with Royal Caribbean Group’s vacation platform, including industry-leading brands – Royal Caribbean, Celebrity Cruises and Silversea – a portfolio of private destinations, new river cruising offering, and an industry-first loyalty program. United in a shared history in the Caribbean and connected by a love for their communities, the companies will offer travelers an unparalleled collection of cruise, private destination and resort experiences, serving guests across more vacation occasions and establishing their undisputed leadership in Caribbean vacations.
The joint venture expands Royal Caribbean Group into an adjacent vacation category, growing its participation in the approximately $2 trillion global vacation market, and meets the growing global demand for Sandals and Beaches Resorts by accelerating their expansion. The partnership will include Sandals and Beaches’ collection of premier all-inclusive properties across the Caribbean, and the companies will explore opportunities to broaden distribution, deepen guest engagement, and make it easier for travelers to discover vacation experiences offered across both portfolios.
“For nearly 60 years, we’ve reimagined what a vacation can be, constantly expanding the ways we inspire our guests to explore, connect and create lifelong memories,” said Jason Liberty, Chairman and CEO, Royal Caribbean Group. “We have been building a vacation platform that brings joy to millions of people around the world and creates meaningful relationships that last with our guests. Our partnership with
Sandals and Beaches Resorts is an important next step on that journey – bringing together two iconic leading vacation companies to further strengthen and grow one of the most admired resort portfolios in the world. The Stewart family has created powerful and beloved brands, and we are honored to build on that legacy. Together, we see tremendous opportunity to expand the reach of Sandals and Beaches Resorts and continue turning the vacation of a lifetime into a lifetime of vacations.”
“My father, Gordon ‘Butch’ Stewart, founded Sandals Resorts with the belief that a company built in the Caribbean could stand on the world stage alongside the most respected names in hospitality. Today is proof of how far that vision can go,” said Adam Stewart, Executive Chairman of Sandals Resorts and Beaches Resorts. “This partnership is the natural next step in building on that conviction. It gives us the ability to grow faster with a partner that shares our values of exceptional hospitality, long-term investment, and the power of enduring brands. Together, we will introduce more guests to Sandals and Beaches Resorts while creating even more extraordinary experiences for those who have made our resorts part of their lives for decades.” Stewart added, “As we continue to grow, we will remain true to what has always defined us: delivering authentic vacations that exceed expectations while creating opportunities for our team members, travel advisor partners and the communities we call home. The future has never been brighter, and I know this moment would make my father incredibly proud.”
The joint venture will be governed by a board under the shared leadership of Stewart and Liberty. Stewart will maintain a leadership role in
guiding the company’s long-term strategic growth as Executive Chairman of Sandals and Beaches Resorts. Existing reservations, loyalty programs, resort operations and cruise operations will continue as usual, with the partnership bringing additional resources to support future opportunities.
Under the terms of the agreement, Royal Caribbean Group will acquire a 50% equity interest in Sandals and Beaches Resorts for approximately $3 billion, representing a forward EBITDA multiple of approximately 10x. Royal Caribbean Group has secured committed debt financing from Morgan Stanley to fund the investment. The transaction is expected to close in early 2027, subject to customary approvals and closing conditions, and is expected to be accretive to earnings next year.
BofA Securities and PJT Partners acted as financial advisors, and Latham & Watkins and Jones Day acted as legal advisors to the Sandals Group. Perella Weinberg Partners and Morgan Stanley acted as financial advisors and Kirkland & Ellis LLP acted as legal advisor to Royal Caribbean Group.
PHOTO CAPTION: Jason Liberty, Chairman and CEO of Royal Caribbean Group, and Adam Stewart, Executive Chairman of Sandals Resorts, mark the signing of an agreement to form a landmark partnership that expands Royal Caribbean Group into the all-inclusive resort space and supports the future growth of Sandals and Beaches Resorts. The signing took place at Royal Caribbean Group’s new headquarters in Miami, with the city’s skyline in the background.
The Caribbean tourism deal first reported as a possibility on Tuesday is now a signed agreement. Royal Caribbean Group plans to pay
approximately US$3 billion for a 50% stake in Sandals and Beaches Resorts, putting the value of the business at about US$6 billion. The purchase is expected to close in early 2027, subject to approvals.
Founded in Jamaica by the late Gordon “Butch” Stewart in 1981, the resort business has a presence across nine Caribbean destinations, including Jamaica, The Bahamas and Turks and Caicos. Sandals has described its workforce as nearly 20,000 people, most of them Caribbean nationals.
“My father, Gordon ‘Butch’ Stewart, founded Sandals Resorts with the belief that a company built in the Caribbean could stand on the world stage alongside the most respected names in hospitality,” said Adam Stewart in the announcement carried by PR Newswire. He will remain executive chairman, while the Stewart family retains a stake. The companies say existing reservations and resort operations will continue as usual.
-
Bahamas News1 week agoThe Bahamas Reaffirms Support for Ukraine at International Conference in Toronto
-
Bahamas News1 week agoWalk for the Cure Every Saturday This October
-
News1 week agoInvest Turks and Caicos Officially Opened Caya Hico Collective, Grand Turk MSME Storefront
-
Health1 week agoTCI Hospital Marks Breast Cancer Awareness Month 2026 with “Know. Check. Act. Support.” Campaign
-
Health5 days agoCleveland Clinic First in Ohio to Perform Robotic Nipple-Sparing Mastectomy