Latest update April 1st, 2025 5:37 PM
Suriname strikes rice deal with Venezuela
Suriname has struck a deal with Venezuela to supply 32,000 metric tonnes of paddy and
Presidents Desi Bouterse (left) and Nicolas Maduro (center) of Venezuela. Second from right, the new Secretary General of Unasur, Ernesto Samper.
80,000 tonnes white rice in the coming year.
While Suriname’s proposed rates are accepted in principle, the two countries will still have to finalize some of the details.
Suriname online news, www.starnieuws.com, reported its Foreign Affairs Ministry as saying that its President, Desi Bouterse, and Minister Winston Lackin travelled to that Spanish-speaking country a few days ago to discuss a rice deal.
The deal would be similar to what Guyana has at the moment but raises some worry about the security of overseas markets for rice. Both Suriname and Venezuela are neighbours of Guyana.
Venezuela is one of the biggest overseas markets for Guyana and has been for almost five years now. Under the deal, Guyana buys oil from Venezuela at concessionary rates and supplies rice and paddy in exchange.
Any other rice deal that Venezuela forges at the moment will be watched with interest by Guyana which has already started to look for other markets, including Africa and Panama.
According to starnieuws.com yesterday, the Surinamese delegation met with President of Venezuela, Nicolas Maduro, and his Minister of Foreign Affairs, Rafael Ramirez.
Like Guyana, the agreement is targeting the increase of rice production to help target non-traditional and existing markets. Minister Soeresh Algoe of Agriculture, Animal Husbandry and Fisheries is also looking to market fish in Venezuela.
Suriname said it is looking for a long-term supply contract.
The rice will be exported 4,000 tonnes fortnightly from Port Nickerie to Venezuela.
Under the current rice agreement with Venezuela, Guyana has to export 150,000 tonnes of paddy and 50,000 tonnes of white rice valued US$114M to the Spanish speaking state this year.
The Guyana Rice Development Board, which is overlooking the shipments, said that the agreement involves 25 shipments of paddy and nine shipments of white rice.
Sixty percent of the rice was expected from the first crop while the remaining 40 percent would be shipped from the second crop.
Rice has moved up in recent years to take second place, after gold, as the country’s big foreign currency earners.
The rice initiative, finalised in 2009 with Venezuela’s late leader, Hugo Chavez, has been a major one for Guyana.
The Venezuelan rice market has become a lucrative, secure one, at least for the time being after years of uncertainty for farmers.
Last year, Guyana’s rice production broke the all time production record, reaching 535,000 tonnes.
This year, the target is set for 540,000 tonnes but officials are looking at the 600,000-tonne mark.
But there has been worry over the price of paddy which has been hovering just over $3,000 per bag. Farmers believe that they should be getting more.
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