The Bahamas imports nearly 90 percent of its food, at an annual cost of approximately $1 billion. U.S. suppliers dominate, given consumer preference for American brands and direct procurement by large resorts. The government aims to increase the agriculture and fisheries contribution to GDP from $150 million (1.5%) to $1.2 billion (10%) by 2031, with policies encouraging foreign investors to source locally. New sanitary and phytosanitary standards may affect exporters, but U.S. agricultural products remain highly competitive.
To enhance food security, promote economic diversification, and ensure market access for local producers the Bahamian government recently announced foreign investors must purchase 40 percent of all food intended for operations from local farmers and fishers.
This policy is not yet supported by legislation, although several international companies have voiced support as part of their corporate social responsibility initiatives. U.S. agricultural product exporters may face increased regulatory controls given the Bahamas Health and Food Safety Agency’s efforts to introduce new food sanitary and phytosanitary and safety standards. The Bahamas Bureau of Standards and Quality has also been mandated to create and implement quality control standards which may pose technical hurdles. Nevertheless, commercial opportunities in these sectors are expected to remain steady or increase, particularly with the development of new high-end resorts.
Leading Sub-sectors
In 2024, top U.S. food and agricultural exports to The Bahamas included: poultry meat and products (excluding eggs); beef and beef products; dairy products; fats and oil products; snack food; prepared food; fruit and vegetable juices; pork and pork products; wine and beer; fresh vegetables; and non-alcoholic beverages.
Opportunities
U.S. food exports are sold in supermarkets, upscale stores, owner-operated outlets, fast food outlets, full-service restaurants, cafes/bars, etc. Large hotel complexes, such as Atlantis and Baha Mar, also sell primarily U.S. agricultural products. With a goverment focus on increasing domestic agriculture production, investment opportunities in the sector are expected to grow.