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Millers urged to grab opportunities in Venezuela rice market
Minister of Agriculture, Robert Persaud, Venezuela Ambassador to Guyana, Dario Morandy and GRDB’s General Manager, Jagnarine Singh (partially hidden), during an inspection of the second rice shipment at the John Fernandes Wharf.
…as second shipment sails
By Leonard Gildarie
A lucrative multi-million-dollar rice deal between Guyana and Venezuela is not seeing much interest from millers and government yesterday appealed for exporters to grab the market opportunities that are presenting themselves.
Speaking with reporters yesterday at the John Fernandes Wharf, hours before the second shipment of the historic deal was scheduled to leave for Venezuela, Minister of Agriculture, Robert Persaud disclosed that only a few millers have come forward.
An estimated 4,500 tonnes of paddy valued at US$1.9M was loaded in the 6,000 metric tonnes cargo vessel, Levante, which came here last week with corn. It will reach Venezuela within three days, it was revealed.
Accompanying the Minister on the inspection tour was General Manager of the Guyana Rice Development Board, Jagnarine Singh, Venezuela Ambassador to Guyana, Dario Morandy and several of his deputies.
According to Persaud, the deal is a significant one for Guyana since it is the first time that the country has been allowed to sell rice to the neighboring country.
Another shipment is expected shortly as the remaining 40 tonnes of rice and paddy are to be shipped within two months, officials assured.
The Minister noted that the Guyana government approached the Venezuela authorities and requested they reconsider the price after the world markers saw growing demands for rice.
As a result, the deal which was signed last year saw Venezuela adjusting the white rice price from US$330 per tonne to US$420 per tonne. The paddy price was also significantly increased from US$560 to US$700 per tonne.
Persaud noted that the Venezuela market is a valuable one that should be nurtured.
He admitted that because it is a new market, sanitary and other demands had delayed the previous shipment but the kinks are all being ironed out.
Recently, Singh had disclosed that after some delays they will now be making moves to ensure that the balance of rice and paddy is all shipped out within the next two months with another boat expected in the country next week.
Last year, President Bharrat Jagdeo brokered the deal with Venezuelan President, Hugo Chavez, after the local rice industry was heavily affected by falling world prices and a glut in the international market.
The deal between the two countries would see Guyana earning US$18.8M.
In late December, the first shipment of 5,000 tonnes of paddy was shipped.
However, government had renegotiated a new agreement for the remaining rice and paddy, with the Venezuela government agreeing to pay US$2.9M more on the deal, bringing it to US$21.7M.
In December, Minister Persaud had warned millers who are supplying paddy for the shipment, to allow farmers to benefit from the extra price that came from the Venezuela market.
Persaud, in addressing the reasons for the delays of the first shipment, had said that these were not solely attributable to Guyana.
According to him, the time that was taken by the Venezuelan officials to visit Guyana to inspect standards, coupled with docking issues in Guyana, contributed to the long delays.
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