Georgetown: The Guyana Rice Development Board (GRDB) is reporting that foreign buyers are demanding low prices owing to the surplus on the local market. These markets include Holland, England, and Portugal. These countries currently import rice from Guyana.
GRDB General Manager Jagnarine Singh said samples of the various rice varieties have been sent to several different markets as the board seeks alternative export markets for the surplus rice being produced this year.
Singh had indicated that they are in talks with other countries which want to buy rice from Guyana. Among those nations are African countries; England; Colombia; and Caribbean territories such as Haiti, Belize, and Jamaica. Noting that importers are aware of the surplus on the local market, Singh said, many are taking advantage of this by demanding low prices. Farmers have been complaining about the low prices they are being offered for their paddy.
Rice Producers Association General Secretary Dharamkumar Seeraj noted that the recent price drop has a lot to do with supply and demand. He said the farmers need to understand that as a result of the surplus crop, there will be a decrease in the price for paddy. While noting that the current crop is the largest in the history of rice farming in Guyana, Seeraj contended that since the Venezuelan market is not on-stream, farmers are worried about their livelihood. He further told this publication that the Venezuelan issue would soon be resolved as “only a few more documents have to be signed and processed”.
Agriculture Minister, Dr Leslie Ramsammy explained that the only document left to be signed is the Purchase Order. He said as soon as that is signed, the issue will be rectified and the ships currently at Venezuelan ports will be able to offload their cargo. Dr Ramsammy had recently announced that rice exports to Venezuela were expected to resume as soon as all logistics were completed between the two governments.
He stated then that the rice agreement, which is in its final stage, remains a significant one for Guyana, noting that in early February, a Memorandum of Agreement (MoA), was inked between La Casa (on behalf of the Venezuelan Government) and Guyana’s Ambassador to Venezuela, Geoffrey Da Silva. “There will be a change in paddy versus white rice and once the contract is inked, we will announce that, but the MoA has already established those numbers,” Minister Ramsammy said. With the MoA already inked, the final stage of the Guyana/Venezuela agreement is near completion. This would include the purchasing order and shipment schedule. Rice shipments have already commenced to Europe, the Caribbean and to new destinations.
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