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Major Brazil investor to produce paddy seeds in Rupununi

May 01, 2010 News

A major European investor, based in Brazil, is to invest in a seed paddy farm and facility in the Rupununi area, Region Nine.
Already, there are agreements made with the investor and a crucial agricultural Memorandum of Understanding (MOU) signed with Brazil earlier this week has paved the way for the investment to become a reality and meet requirements, Minister of Agriculture, Robert Persaud, disclosed yesterday.
On Monday, Persaud and Foreign Affairs Minister, Carolyn Rodrigues, joined President Bharrat Jagdeo for the historic CARICOM/Brazil summit where the agricultural MOU was signed.
On Thursday, Persaud stressed that the MOU, which was being worked on for the past year, will swiftly improve trade between the two countries since there are requirements which demand measures to first be in place.
Investments in rice, soya, corn, fruits and vegetables and livestock, will see several projects, already in the pipeline now coming to fruition.
Before trade in especially food produce is possible, there must be measures to address the issues of sanitary and phyto-sanitary requirements, the Minister explained yesterday during an interview.
The seed paddy investment is geared to meet markets in Brazil and the region with the Rupununi soil found ideal for the production. Already, the area has been identified for the investment and it will bring tremendous opportunities for locals and businesses in the area, the official said.
According to Persaud, the agreement with Brazil is ground-breaking, especially when viewed in the context of trade within the region and experiences will be shared with CARICOM.

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