REGION Nine farmers and agro-processors are now equipped with the knowledge to identify costs of inputs and labour to help them arrive at realistic prices for their produce

The know-how was recently imparted at a one-day Cost of Production Workshop organised by the Inter-American Institute for Cooperation in Agriculture (IICA) in collaboration with the New Guyana Marketing Corporation and PROPEL.

The training provided a template that can be used for the calculation of costs of production for many agricultural commodities.

The 47 participants, including five students from Bena Hill, at the end of the one-day exercise were also in a better position to improve their linkages and access to rural, local rural and international markets.

The interactive workshop allowed for the development of five different costs of production schedules operable in the Region Nine.  These costs were divided into fixed and variable costs.

Cost of production methods were developed for peanuts, cassava bread, hot sauce, plantain chips, and guava jam.

Participants were also given resource materials and are now knowledgeable about how to calculate the costs of producing, knowing their profit margins and being able to negotiate better prices for their produce.

The exercise is the first of a series of training activities by IICA in business development, focused on cost of production.

The programme will continue in May, targeting farmers and agro-processors in Regions Two, Three, Four, Five, Six and 10.