Working with Habanero Farmers in Belize

Author: Brady Voss | Major: Finance | Semester: Spring 2024

Hello! My name is Brady Voss, and I am a current senior majoring in finance and minoring in

economics and marketing at the Sam M. Walton College of Business. My mentor is Dr. Amy

Farmer of the Economics Department, and she has assisted my research in the spring semester

of 2024. My plans upon graduation are still undetermined, but I am currently weighing the

options of a career in corporate finance, a full-time MBA program, or an M.Div. at a seminary.

My research this semester is a culmination of work that I did in the summer of 2023 in Dangriga,

Belize. I spent 8 weeks working in-country with the Ministry of Agriculture where I was tasked

with estimating the cost of production of hot peppers in the Stann Creek District. This project is

essential to assist the Ministry with updating and refining its records, as there is missing data

from 2019 to the present because of the COVID-19 pandemic. Farmers have since been faced

with extreme prices from supply chain bottlenecks and global inflation that have significantly

contributed to increasing their production costs. Many farmers struggle to make a profit and

lack the necessary data to measure their costs and revenues correctly.

My research aims to accurately collect, estimate, and formulate updated data to quantify the

current cost of producing hot peppers and provide a cost-benefit analysis for future farmers

who are interested in entering the industry. During the summer, I worked with the Ministry and

collected data from farmers and local suppliers. Then, I spent the spring semester of my

research modeling the data to find the updated COP, which the Ministry will provide as a

resource for farmers. My research project is supported by in-country findings and continued

research related to the efficient production of hot peppers.

I was first introduced to my mentor Dr. Farmer in Dr. Robert Stapp’s Microeconomics class at the

University of Arkansas. She offers multiple international internship opportunities to students

each summer, with each country having its special projects. I decided to go to Belize and chose

this specific topic because it most aligned with the financial knowledge and skills I had gained

thus far at Arkansas.

Before I entered the country, I had little knowledge of what my topic would truly reveal, but

upon weeks of research, interactions with farmers, and hands-on experience, I was able to fully

grasp the depth of my project. I learned how important it was for farmers to have access to

updated prices and methods to accurately assess their finances. Many farmers struggle to make

an accurate profit, and through financial transparency, they can better manage their farm’s

revenue flow.

Dr. Farmer played a tremendous role by acting as our liaison with our in-country supervisor and

international internship program provider. She was influential in helping me get my research off

the ground and get the ball rolling, as it took me several weeks to finally get out to a farm to

collect data. Her wisdom in guiding my research has been the most consistent factor in getting

my research done on time and making sure it is an accurate reflection of the data collected.

Moving forward, I hope to pass this research off to next year’s students and take the skills I have

learned into my next stage of life.