GUYANA’S rice production has expanded by 19.8 per cent to a total of 362,029.5 tonnes, compared to 302, 295 tonnes one year ago, the Bank of Guyana has said in its 2024 half year report.
According to the report, in the first half of the year, 84,973 hectares were sown, an increase of 9,553 hectares or 12.7 per cent when compared to one year ago.
Hectares harvested amounted to 84,590 hectares, an increase of 12.7 per cent when compared to end-June 2023.

Additionally, compared to 6.2 tonnes per hectare a year ago, the yield of rice has improved to about 6.6 tonnes per hectare.
Earlier this month the Ministry of Finance had revealed that of the $97.6 billion allocated to the Ministry of Agriculture in 2024, some $28.9 billion was spent on developing Guyana’s expanding agricultural sector during the first half of 2024.

Notable initiatives undertaken by the government to enhance the agricultural sector, included the building of 75 new shade houses for high-value crops.
These crops are cultivated using hydroponics farming.
Some high-value crops include bell peppers, celery, broccoli, cilantro, carrots, lettuce, mint, cauliflower, chili peppers, and tomato. This investment benefitted 43 farmers.
Additionally, in the sugar industry, over 2,000 hectares of land were converted to cultivate and harvest sugar cane at the Rose Hall, Albion, Blairmont, and Uitvlugt Estates.
A sugar dryer budgeted at $60 million will be installed by the end of the year. This will enhance the quality of the sugar and guarantee increased production within the industry.
Additionally, by the end of the year, the number of employees within the sugar industry is expected to increase to 8,300 persons.

Favourable results were also noted in the rice industry for the first half of the year.
Technical services and training were provided to rice farmers along with the introduction of advanced technological mechanisms which yielded benefits of higher productivity at lower operational costs.
A total of $526.5 million was spent by the Guyana Rice Development Board (GRDB) to support the industry.
Meanwhile, $60.7 million was spent to accelerate the expansion of the coconut industry within the past six months. About 13,000 seed nuts of the hybrid variety were imported from Brazil.

With the expansion of large-scale farming and the increased export of agricultural products, alongside the training of farmers in various agriculture disciplines, Guyana continues to solidify its position as the food basket of the Caribbean.
The government remains steadfast in its commitment to bolstering the agriculture sector by investing towards its advancement, and efficiency.
The Guyanese economy remained buoyant, with a real oil GDP growth of 49.7 per cent and non-oil GDP growth of 12.6 per cent .

Accelerated crude oil production contributed to real oil growth, while robust performance in construction, agriculture, and the services sectors influenced real non-oil growth.