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Panama, Colombia eyed for new rice markets
The search is on for additional markets for Guyana’s rice as production has surpassed the 500,000 tons targeted for this year. Panama and Colombia are being eyed as markets of interest for 2014.
This is according to an official close to the Guyana Rice Development Board (GRDB), who enlightened that General Manager of the GRDB Jagnarine Singh and senior officials of the Agriculture Ministry
File photo: Rice being loaded onto a ship for export
are “looking for additional markets”.
The official said that thus far, production for 2013 has allowed Guyana to have surplus rice in storage, a situation which rarely exists. As such, the GRDB is hoping to tap into the Panamanian and Colombian markets for the first quarter of next year. The official said it is usually difficult for Guyana to export to those markets since they purchase early.
Though challenged to find new markets, the GRDB is utilizing the opportunity to expand existing markets. The official related that Guyana’s export to the European market has already surpassed what was sold to that market for the entire 2012.
“At the end of September, Guyana was able to supply the European market with 50,000 tons of rice while its entire export to that market for 2012 was just over 40,000 tons.”
This welcoming increase in production would probably see Guyana supplying Venezuela, under the Petrocaribe agreement, with additional tons of paddy in December. The official said Guyana has already satisfied its contractual responsibility of exporting 88,000 tons of paddy for 2013.
In addition, Guyana has already supplied the Spanish-speaking state with 70,000 tons of white rice and is expected to ship out another 50,000 tons shortly, the official said.
While Guyana exports five percent of broken rice to Venezuela it exports 20 percent of broken rice to Jamaica. The official clarified that though the percentage of broken rice being exported to Jamaica is higher, it does not mean the quality is poor.
Guyana supplies 50,000 tons of rice to Jamaica annually, but that amount is likely to be exceeded this year. Just last week, Agriculture Minister, Dr. Leslie Ramsammy and GRDB’s General Manager met with officials in Jamaica to discuss the purchasing of additional rice.
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