–President Ali, continuous engagements with local farmers, millers underway
–as country prepares for massive production yields soon

The global rice market is experiencing record high production and stockpiling, leading to a glut, which has seen prices falling globally. This comes at a time when Guyana is projecting strong yields for its second crop of the  year, but international challenges could arise for local millers and farmers.
Though the oversupply has triggered a price decline, the government of Guyana has already begun engaging the country’s millers and farmers to examine ways in which support can be provided; this is according to President Dr. Irfaan Ali.
The Head of State, during his first news conference since being re-elected to office, told reporters that while the government has exhausted the traditional tools available, the government is committed to collaborating with all stakeholders to find creative ways to ease the global burden.
“These record production levels also bring the challenge of having not only markets but decent markets for our farmers, both in the EU [European Union], Latin America, and the CARICOM [Caribbean Community] region,” the President said.
Breaking down the numbers, President Ali explained that in August, the global white rice export quotas averaged US $415 per tonne, down US$14 from the previous month and $228 from the year prior.
The government has invested $2 billion in price support, ensuring farmers received at least $4,000 per bag of paddy.
In addition, the government has supplied millions in fertiliser and seed paddy insurance; removed VAT on machinery, equipment, and agro-chemicals; negotiated and settled Panama’s $1.5 billion debt to local millers; and zero-rated the Guyana Rice Development Board’s (GRDB) sales commission in 2025.
Agriculture Minister Zulfikar Mustapha and Finance Minister Dr Ashni Singh met with a group of millers earlier in the day, engagements are expected to continue with farmers later this week.

Guyana’s second crop  is projected at 209,000 acres, with average yields at 40 bags per acre.
The second crop is projected to yield over 8.3 million bags, a record high for the country.
It was previously reported that the rice industry’s target for the first crop of this year had already been surpassed, marking a strong start toward meeting the overall national goal of 824,000 tonnes for 2025.
The country’s production had reached a record high in 2024. The yield increased from 5.7 tonnes in 2020 to 6.6 tonnes per hectare in 2024 for the last four years.
This incremental increase in rice production has been ongoing since 2021, when production was at 559,789 tonnes. In 2022, it increased to 610,595 tonnes, and 653,706 tonnes in 2023.
NO SCALING BACK
Building on this momentum, President Ali asserted that scaling back production would not be an option, infact, there is now potential to established business systems to add value to the country’s rice.
“I don’t think we can scale back. I believe that we have to add value, and that is why we have to build out agro ecosystem, a business system. We have to find ways in which we create higher value for our rice. We have to invest in storage. Because when you want to play in a big game and have increased production, you have to have storage capacity, and also market forces are there.”
He stressed that in the events of oversupply or shortfalls, it is inevitable that market prices will fluctuate; this stresses the importance of managing the industry efficiently and making targeted investments.
“Now how we manage our production system and the type of investment we make so that we have to have some amount of stock buying capacity capability too. We’re building that out in every single region. That is part of our plan. We have to add value and create greater local use of the rice here,” the President explained.
In addition to this, Guyana has been working on its trade agreements to maximise the markets in which we can have the best prices.
“Those are important things, also in the equation of rice, and we also have other commodities. Agriculture all over the world requires a lot of government investment, government support, government infrastructure, access to financing, and credit facilities. These are all things that are linked to the survival of the industry,” the President stressed.