Karibee rice producers ready for major Cuban market

Sep 17, 2017 News

Guyana’s leading rice and packaging company Nand Persaud & Co. Ltd is preparing to execute its first shipment of rice to the Cuban market.
This is according to the Managing Director and CEO of the company, Mohindra Persaud.

CEO of Nand Persaud, Mohindra Persaud

After over two years of consultations, meetings, discussion between the Cuban Ambassador to Guyana and Persaud, the company was able to secure a licence to ship to that island-country.
Over 17,000 tons of rice is expected for the first shipment.
During an interview, Persaud said that with such a development, it is a huge step for Guyana.
“It is good for Guyana. If we can sell to more countries then there will be more bargaining power.”
Cuba, he noted, consumes and imports a substantial amount of rice.
He explained that with consultations which began some two years ago, it was only six months ago that he began to actually believe that it can happen.
“The interest from Cuba is there to buy rice from Guyana. We started to work aggressively with great support from the Cuban Ambassador.”
Persaud relayed that it was only two months ago that the deal was confirmed and secured giving them the go-ahead to sell.
He also underscored that if the first shipment of rice is successful as it relates to the quality of the shipment then it is his belief that they can ship much more.
“If they give us 25,000 tons or 50,000 tons, they still would need to import a lot more because they actually import 500,000 tons but we are happy to do something in Cuba.”
He further explained that at present the company is not placing a lot of emphasis on other markets.
“It is not a good time go look at other markets but we will continue to penetrate, expand and promote our Karibee Rice in the small packaging markets.”
Persaud noted also that his company is expanding with a new warehouse facility. It is expected to provide eighty percent more of storage and an intake going up to approximately 20% more.
“Nand Persaud is always expanding, we try to make things happen and not wait for it to happen”, he said.
Meanwhile, touching on his interest in the Skeldon Estate, the business mogul stated that an interest to buy was submitted to Government.
“We believe we do well in rice and sugar is no different; they are the same method of management and same method of production, just two different commodities so we know we can do it.”
He explained that not much can be done at this time since it is up to the government to now lay out on the table “How they want to arrange a sale for partnership or any form they feel fit. But the interest is there; I don’t look at it as a big challenge”, he said.
Nand Persaud is a major player with Karibee Rice in Guyana and has snagged significant markets in the Caribbean and North American.

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