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A batch from US$56M rice deal heads to Venezuela

Nov 17, 2011 News

 

 

With Guyana continuing to export one of its major resources, rice, to neighbouring Venezuela, more hope is being given to rice farmers since they now have an additional forum to earn more income for their livelihood.
As there is the continuation of the contract which allows Guyana to export rice in exchange of the $160 million debt owed to Venezuela for oil, yesterday’s shipment marked the fourth vessel of paddy and rice to be shipped to Venezuela at an estimated cost of US$56M.
According to Agriculture Minister, Robert Persaud, a five-month-old vessel has started loading 50,000 tonnes of paddy and 20,000 tonnes of white rice for shipment by today.
The Minister added that as soon as the first vessel finished loading, the remaining paddy and rice will be transported by another vessel. “The Venezuela market is a new market and we are very happy that the Venezuela Government continues to look to Guyana as the supplier of rice and paddy.”
The agreement between the two countries has allowed for greater benefits to flow to the producers of rice in Guyana and the consumer of rice products in Venezuela.
According to the Minister, the rice industry this year will see the largest ever output, close to 400,000 tonnes of rice.
Picture saved as rice 1 and 2 in Thursday

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