As per sources, it has been reported that Jamaicans are being warned to brace for a 10 to 15 per cent increase in the price of rice from Guyana following a hike in the cost to import gain. It has been stated by the Managing Director of Jamaica Rice Mills Mr Derrick Nembhard in mid-March, that the Guyana Rice Development Board introduced a pricing schedule which requires Jamaican importers to pay US$400 per tonne if they are importing 1,500 tonnes or more. However, if the Jamaican importers want less than the 1,500 tonnes, in that case they will have to pay more than US$400 per tonne.
Further, in this matter, Mr Nembhard revealed that as a result of an increase in the price of rice imported from the region, the cost is being passed on to consumers. Recently, the Jamaica Rice Milling Company signed an agreement with the Guyana Rice Development Board to import a total of 80,000 tonnes of rice from Guyana during 2016. However, Mr Nembhard narrated that the Guyana Rice Development Board independently arrived at the pricing schedule. Further, it was also informed that currently Jamaica gets most of its rice from Guyana. There is no indication that whether the price of rice from outside the region will also increase.