THE Ministry of Agriculture has launched an investigation with regards to the high expenditure incurred by demurrage cost.
The country currently spends approximately US$1M, in this regard.
Demurrage is a charge payable to the owner of a chartered ship in respect of delay in loading or discharging.
Citing the need for the matter to be addressed in a timely manner, Agriculture Minister Robert Persaud said that as Guyana and Venezuela trade relations progress, it is anticipated that the matter of port congestion will be dealt with.
“This is a very serious issue. In fact,  a vessel left here on August 13 and only today (last Thursday, almost two weeks later) it would be able to dock and bearing in mind the time it takes from Port Georgetown to Port Venezuela is just under three days,”  he said.
Minister Persaud indicated that he hopes the issue, which is costly, will be addressed since the new US$38M contract is good for the industry in terms of providing more opportunities for increased revenue.
Guyana is also pursuing larger value-added markets within Caricom by offering attractive deals.
“At the end of the day, Guyana’s agricultural produce is about exporting where the price is right. Whoever pays the best price we will certainly pursue those markets as we have done with Venezuela,” he said.