Guyana FlagAs per local sources, the Chairman of the Guyana Rice Producers Association (RPA) has advised the government to tap the Caribbean and Europe rice markets after losing the Venezuelan market. As per reports it has been stated that during last week, Venezuela has decided to import rice from Suriname in 2016 under a new PetroCaribe deal according to an officially cancelling of deal with Guyana. In view of this, the RPA Chairman observed that as Suriname would supply rice to Venezuela, the Guyana should also consider tapping Suriname’s traditional markets in the Caribbean and Europe.

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Further, the Suriname’s rice production is not that big so it depends on how much they supply to Venezuela. Thus depending on how much they supply to Venezuela, then that corresponding amount will be available for Guyana to supply to the Caribbean and Europe. It was noted that Venezuela was an important market for Guyana because export earnings from Venezuela accounted for about 75% of the total export earnings of the country though the volume of exports comprised of only 38% of the country’s total export volume. It has also been revealed that Guyana and Venezuela are involved in a border controversy after Venezuela sought to claim a part of Guyana’s territory.