–farmers in Panama rice deal can enjoy Christmas

FARMERS are set to receive payments from rice millers as the Guyana Rice Development Board (GRDB) has paid over $600 million to millers for rice supplied to Panama a few months ago. A statement from GRDB on Saturday said that the $600 million represents outstanding money owed Guyana by Panama for rice supplied.
Acting GRDB General Manager Nizam Hassan explained that “this is the payment that Guyana has received from Panama for its supply of almost 7,500 tonnes of rice. Over $660 million has been paid out. All millers have been paid in full,” Mr Hassan said.
This payment was made on the second contract for rice supplied to the Spanish country between September and October 2015.
“With payment arriving in such a short time, GRDB is confident that this can be seen as a start to the potential end of lengthy waiting periods for rice payments, by farmers,” the release stated.
Hassan said too that “Farmers can expect payment now that millers have been paid.”
Last year, the governments of Guyana and Panama signed an agreement that would have seen Panama purchasing 5000 tonnes of rice per month from Guyana. That country imports about 150,000 tonnes of rice annually and the move by Panama to import rice from Guyana is to ensure that the country is able to have access to the staple at an affordable price.
Guyana on the other hand has said the agreement would make the country more competitive in an open market to supply additional rice yearly. The arrangement was expected to see Guyana exporting approximately 500,000 tonnes this year.
The GRDB has vowed to work closely with all stakeholders to address ongoing challenges facing farmers with respect to payment from millers for paddy sold.