The Mona Institute for Applied Sciences says, although the global market for Jamaican Black castor oil is valued at US$300 million, Jamaica's share of this is less than US$5 million.
Meanwhile, the wider castor oil market is valued at US$2 billion.
Dr Howard Reid, Director and Principal Researcher at the Institute, says there is a proliferation of inauthentic Jamaican Black Castor Oil on the market due to a lack of standards.
The local market has also been stagnant for 10 years, despite much discussion.
Labour & Social Security Minister Pearnel Charles Jr., says the sector can contribute approximately US$100 million in foreign exchange earnings to the economy annually if production improves.
But, according to President of the Jamaica Castor Oil Industry Association Courtney Haughton, the sector is not getting enough support from the Ministry of Agriculture.
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