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Why is the Petrocaribe deal accepted as oil for rice and not oil for coconuts or bananas?

Jun 29, 2015 Letters

Dear Editor,
Judging from my reading, the petrocaribe deal is a preferential treatment given to Guyana and other countries for oil purchases from Venezuela.
A major feature of the deal is that Guyana is allowed to pay 5-50 percent of their oil purchases from Venezuela upfront and is given 17-25 years to pay the other half. As far as I can gather, nowhere in the deal is rice mentioned. So this almost universal acceptance that the Petrocaride deal is a rice fund is not accurate.
As our finance minister and his delegates negotiate an extension to this deal in Venezuela I do hope they promote other produce to Venezuela apart from rice.If our Minister can get Venezuela to be interested in our other agricultural products, particularly those that we struggle to find markets for, it would be a good thing.
International demand for other local products would strengthen the income of these markets and hopefully ensure their sustainability over time. Jobs will be created.
The Development and productivity in the agricultural industry will benefit as a result. Additional we will see a reduction of poverty in some of the agricultural community.Rice farmers enjoy an unprecedented level of government support even though this industry is largely private.
Rice is a mature industry. Government should gradually withdraw its intervention from this market and allow the market forces to determine the output and price of both paddy and rice production. By withdrawing government intervention, the production level of paddy and rice will settle at an appropriate level that is sustainable for the industry.
Any risk of an over bloated market will be minimised and even disappear altogether, thus securing the future of this industry. I feel that other agricultural products were given a bad deal with government canvassing for rice to be sold to Venezuela for which they use the petrocaribe money to offset the rice exports.
A fair and balanced government would have tried to advocate for other agriculture products to get access to this neighbouring market. I do hope that our new government can demonstrate their fairness by negotiating broadly for all of Guyana and not only a part.
Malachi James

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