GOVERNMENT, in its continued effort to support and sustain Guyana’s rice industry in wake of continuous market challenges, has allocated in its 2015 $221 B National Budget over $23B to support further payments to over 7,000 rice farmers. Presenting his first budget to the National Assembly yesterday, Minister of Finance Winston Jordan explained that this allocation was done in the context of the current inability of the PetroCaribe Fund to meet these payments.
The Government is of the view that it is imperative that the rice market be sufficiently diversified so as to reduce the dependence and vulnerability implied in the concentration of a large share of Guyana’s rice being exported to one market.
“We are actively searching for new markets for our rice. We are encouraged by the productive discussions during the national conference held with rice farmers and millers, and by the proactive response of those who have already begun to source additional markets,” Minister Jordan advised.
Minister of Agriculture Noel Holder, during his address to the rice farmers and millers at the National Rice Farmers and Rice Millers Conference held on July 27, 2015, had indicated his Ministry’s intention and support for the development of research in creating new rice varieties and the introduction of improved technology in the Rice Sector. This is also supported in the 2015 budget.
Government has promised to provide incentives to producers who add value to rice, for it is believed that a diversified industry will adequately accommodate the increased production anticipated from higher yields.

The July engagement between Government and stakeholders of the rice industry was the fulfillment of a commitment made during the campaign period.