A purchase order for another shipment of rice Guyana to Venezuela was signed by the Governments of Guyana and Venezuela Thursday. Minister of Agriculture Minister Robert Persaud made this disclosure to media operatives during his press briefing at his office in the city.
The agreement inked in Venezuela by the Guyana Rice Development Board’s General Manager, Jagnarine Singh, and Venezuelan Government officials, is aimed at expanding and diversifying local markets while providing more opportunities for farmers.
The rice purchase agreement stemmed from a historic trade deal between Venezuela and Guyana for the procurement of rice, and has created a market of 10,000 tonnes of paddy and 40,000 tonnes of white rice to be exported to the Spanish speaking country.
The trade agreement, which was instigated in October last, saw its first shipment of 5000 tonnes of paddy being sent off to the neighboring country in December of last year. The deal is worth $3.7B and provides for US$330 and US$500 per metric tonne for paddy and white rice respectively.
Exportation is of great importance to the agriculture sector since it is the Ministry’s approach to diversify markets, allowing farmers to benefit from better prices and timely payment.
With Government’s continued support, rice production and export have increased significantly. This has resulted from both expansion of the areas cultivated and increases in yield. (GINA)