As per sources, it has been reported that the Guyana will export about 11,300 tons of rice to Panama over the next three months as Panamanian government increased the 2016 import quota from Guyana, as quoted by the Agriculture Minister. Further, the Minister also narrated to reporters that representatives from the Institute of Agricultural Marketing in Panama City have confirmed about the increased quota of rice from Guyana. In this regard, the Guyana Rice Development Board (GRDB) has already shipped about 7,500 tons of rice in this year. The increased exports would support Guyana’s farmers, as revealed by the Minister. In addition, it was also lauded about the Panamanian Government for its continued confidence in Guyana’s rice industry.
Furthermore, it was informed that the Government is extremely pleased that you (Panama) are happy with the services we (GRDB) have been supplying since the commencement of our relationship. Moreover, it is assured you that the GRDB will continue to provide the same excellent and professional service to your Government, in future too. The Minister also noted that the government of Guyana is continuously working on finding new markets and assured the rice industry that loss of the Venezuelan market is not significantly impacting the country’s rice exports.
In this matter, the General Manager of the GRDB also observed that the opportunities appear to loom large for Guyana’s rice industry, as enhanced efforts will be made by the Board to ensure that additional markets are secured. According to the data, the Guyana exported around 537,334 tons of rice in 2015, which is up about 7.21% from around 501,208 tons in 2014. The country is grappling with lower prices following Venezuela’s cancelling of rice import contract with Guyana. Further, higher supplies are also understood to impact prices in the country. It has also been emphasized that the Guyana, which exported to about 32 countries in 2015, is exploring new markets for its rice exports.