After almost one year of searching, Jamaica Cane Product Sales (JCPS) has located the Indian company that allegedly pocketed a downpayment on cheap fertiliser without delivering the product.

Shreeji Impex Corporation was tracked to Mumbai, India with the American Citizens Services unit of the US State Department and Jamaica's honorary consulate in the Asian continent.

The downpayment, though, is yet to be fully recovered.

"We still have not recovered any more of the money, because we have not spoken to them just yet," Karl James, general manager of JCPS, told the Financial Gleaner.

"But the good news is that we have tracked them down and they are fully operational."

James said that his organisation is exploring different avenues to recover the cash, including being reimbursed by the New York-based Jamaican company that negotiated the deal on behalf of the Indians.

"We have also been in constant dialogue with him (head of the New York firm) through his lawyer and that still remains an option as we seek to recover this money," James said.

"We worked closely with him in trying to locate the company in India, and we still expect his full cooperation until this matter is resolved."

Tight on information

James refused to elaborate further, referring the Financial Gleaner to former government minister turned international consultant Anthony Hylton, who is advising JCPS on the matter, but efforts to reach him were unsuccessful.

The fertiliser deal was cobbled in March 2008, when the still unnamed head of the US-based Jamaican company, is said to have visited the Ministry of Agriculture, claiming to be able to source and supply fertiliser at a lower cost than the sole private manufacturer, Newport-Fersan Limited.

An order for 6,000 tons was made, followed by a deposit of US$1.4 million sent to the agent in New York, which took US$250,000 as commission and said it paid the remainder, US$1.15 million - now worth in excess of J$102 million - to Shreeji Impex. The shipment, which should have arrived in Jamaica between April and May last year, never came and neither the JCPS, nor their US-based middleman, were able to reach the Indian supplier.

The JCPS has since sought to recover its deposit, but only the commission was returned. The sugar marketing company also solicited the assistance of the Indian High Commission in Jamaica after it failed to recover the money the agent claimed was sent to the Indian company.

Minister of Agriculture Dr Christopher Tufton said as a mere spectator to the deal, he has no authority to make a determination on the matter, while members of the JCPS board were unwilling to comment.

With the Indian supplier now located, the JCPS head said this week he was hopeful of recovering the funds paid over by the sugar marketing company.

"I am hopeful that this will be the beginning of the end of this matter," James said.

JCPS handles Jamaica's sugar sales on the international market.

mark.titus@gleanerjm.com