Sunday, May 06, 2007

 

Mushroom report released

Good potential for commercial farm

MANDY RYAN
The Gulf News

The potential for a viable commercial mushroom farm in the Codroy Valley is high and the financial impact of such an initiative would be positive for the province.

That’s according to Harry Coates, chairman of the Codroy Valley Development Corporation, which commissioned the Mushroom Cultivation in Newfoundland and Labrador feasibility study.

A meeting was held in the Codroy Valley last week, at which 23 people attended, to release the findings of the study.

From the feedback the association received Mr. Coates said the meeting attendees were impressed with the study’s findings with several people indicating an interest in investing in a mushroom farm.

Growing mushrooms is as much of an art as a science, said Mr. Coates and he believes things would start sooner and work better if a knowledgeable, major partner were involved, along with some Newfoundlanders to take on equity positions.

The cost of setting up a farm is projected at just over $2 million. But, Mr. Coates said the more money that is available through equity investment, the faster the farm can be profitable.

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