Bajans urged invest in rum’s ‘billion-dollar future’

Barbados is banking on its world-renowned rum industry to drive economic recovery, with government and business leaders urging citizens to become direct investors in the sector’s ambitious bid to boost exports to a billion dollars. 

The call for national participation was made as Mount Gay launched its new Cognac Cask Expression, a premium rum crafted to highlight both the island’s heritage and its innovative aspirations.

Minister in the Ministry of Finance Ryan Straughn outlined how the iconic rum industry could power national investment, innovation and global competitiveness.

“This evening is an expression of how we can utilise innovation and partnership to help Barbados achieve something quite spectacular. There is an opportunity here for ordinary Barbadians to invest in such a venture, because it will require significant investment,” he remarked at the event held at Mount Gay’s historic St Lucy distillery. “If we are going to meet that milestone, we want to ensure that this rum industry includes Barbadians as we achieve this, I think, quite progressive objective.”

Also speaking at the event, managing director Antoine Couvreur celebrated the new release as a symbol of Mount Gay’s deep-rooted history and commitment to innovation, pointing to recent investments including a fifth ageing bond, a proprietary molasses mill for 100 per cent Barbadian inputs, and renewable energy infrastructure that covers more than 60 per cent of the facility’s rooftops.

“What I can tell you, however, is that over the years we have aimed to honour and protect the legacy of this historic location and this Barbadian brand, while ensuring its future through innovation and creativity,” Couvreur said.

The new expression, aged in ex-cognac French oak casks from Rémy Martin, was the brainchild of master blender Trudiann Branker. “This rum is four years old, 100 per cent aged in ex-cognac French oak casks. Non-chill filtered, no additions, no caramel,” said Branker. “The golden colouring you see is 100 per cent from the maturation process; those red fruits are still showing up and then, after you swallow, this is where the vanilla comes from.”

But while the launch was a celebration of fine rum, it also doubled as a rallying call for deeper economic participation and global ambition.

“We are determined, as part of the economic recovery and transformation programme, to push [rum exports] to a billion dollars between the period,” Straughn declared. “Therefore, this evening is an expression of how we can utilise innovation and partnership to help our business achieve something quite spectacular.”

He called for inclusive investment mechanisms that would allow regular citizens to take ownership in the industry’s growth: “There is an opportunity here for ordinary Barbadians to invest in such a venture. It will require significant investment if we are going to meet that milestone.”

He compared rum maturation to the growth of financial instruments, asking: “How do you participate in innovations like these, and investments like these, that allow ordinary citizens to be able to purchase the environment of money in your name—and at maturity, you get to share in the return on investment?”

Straughn opened the door for a broader national conversation and financial infrastructure that allows citizens to become stakeholders in rum’s resurgence: “I genuinely believe that us being able to afford our Barbadians the unique opportunity to participate—not just to run shops and have the sales go successfully across the world, but to be a partner in the success of what the future will look like.”

He also praised Mount Gay’s collaboration with its French parent companies, Rémy Cointreau and Rémy Martin: “There is history here which we must leverage to our benefit. The same pride that the French have with cognac and champagne, Barbados should feel that same pride with respect to rum.”

The Cognac Cask Expression will be released in limited quantities in Barbados and key markets including the US, UK, Europe and Asia. (LG)