indian basmati riceAs per report released by the Prime Minister’s Office PMO, it is likely that Guyana may secure a rice export contract with Mexico very soon. Further, it has been reported that the decision has been taken when the Prime Minister of Guyana met with the Mexico’s Agriculture Minister during the Open Governance Summit in Mexico City held from October 27-29, 2015. It has also been stated that the Mexico’s Agriculture Minister assured Guyana that he would speed up the formalities related to the finalizing of the deal. It was   narrated that private sector will also   be encouraged to enter into contracts with Guyanese millers.

Further, in this regard, the government of Guyana has been seeking to enter new markets for its rice after losing its valuable Venezuela market. However, the Venezuela has denied in renewing the oil-for-rice deal with Guyana. While, the Mexico market has been selected as one of the several markets being explored by the government.

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According to the data, it has been observed that Guyana produced 359,960 tons of rice in the first six months of 2015, which is up about 15.3% from around 312,283 tons produced during the same period in last year. In addition, Guyana aims to produce about 618,000 tons of milled rice and export around 521,000 tons in 2015.Further; the Guyana has also exported around 501,208 tons of rice in 2014, which is up about 27% from around 394,000 tons exported in 2013, as per the data reported by the Agriculture Ministry.