A Pool of member distilleries and Sugar Producers formed The Spirits Pool Association Limited in 1974, under the original principles of the Rum Pool Agreement of 1932.

A critical function of the Rum Pool was to provide oversight and management of the quality and quantity of rum that members had agreed to, with the Pool. In addition, the Pool facilitated the sales to Primary Buyers. The Pool ensured that certain marks of rum were available and undertook efforts to ensure the overseas buyers were always engaged.

In 1932, Jamaica was seeing a phenomenon that was occurring worldwide. Agricultural products were failing because there was overproduction resulting in price declines and a glut of products on the market. Additionally, this created an unfavourable business environment for smaller players in the industries. The forming of the Rum Pool was to protect the interest of Jamaica Rum producers, and notably, were mostly sugar producers as well. The idea was to decide how best to protect Jamaica Rum, its production, and marketing in the face of international issues such as competition and imitators.

In 1931 the Jamaican Government introduced the Rum Regulation law to restrict production, which led to the formation of Jamaica Sugar and Rum Manufacturers Ltd. The members made a voluntary General Pool Agreement which intentionally reduced production to 361,000 liquid gallons in 1933. Prior to this Government regulation Jamaica produced up to two million liquid gallons in 1916 which had fallen to one million liquid gallons in 1931. At that time, and even with this fall in production, a glut on the market kept prices extremely low with exceedingly small profit margins.

The Colonial Government passed the Rum Control Law of 1934 and production was stabilised. In that year there were thirty-four estates in the Rum Pool. By 1937 all thirty-four distilleries were under the Rum Pool Agreement. Members signed a new Spirits Pool Agreement on June 6th, 1963, and there have been iterations of this in the subsequent years.

Forward from 1974, the Spirits Pool Association Limited successful continued to provide oversight for production of rum, engagement with Primary Buyers, and management of agreed prices amongst members. All this that created and equitable environment for the Jamaica Rum industry.