Latest update August 20th, 2026 12:07 AM
‘Gov’t must find new market for rice’ – Former Finance Minister
Kaieteur News – Minister of Finance under the A Partnership for National Unity+ Alliance for Change (APNU+AFC) administration, Winston Jordan said that with the premium market for rice with Venezuela obsolete, there seems to be no strategy by the government for new export outlets.
Former Minister of Finance Winston Jordan
Jordan appeared on ‘The Countdown’ with Andrew Weeks on Sunday, where he addressed the current uproar by farmers across the country over rice price, reminding that there were days when Guyana had a huge market in Venezuela at a substantially, premium price, way above the world market price.
He said that this was an incentive to perform and increase rice production, relaying that rice was sold to Mexico, Cuba and the usual European market.
Jordan explained that there is currently a glut on the market. According to him, if the situation is temporary, then there is nothing to worry about, once there are silos to take off the excess rice until things are normalised and the stored rice could be sold.
“…if you don’t have the silos, and the outlook for rice is for prices not to return even to the glory days, then you must be able to tell the farmers that, and marginal farmers, you’re going to have to work with them in some other crop,” Jordan stressed.
The former minister advised that government should work with farmers to further improve their production. Marginal farmers should however be informed on what is happening and be assisted into new productive ventures, he noted.
President Irfaan Ali last week promised rice farmers in Region Six to invest in building storage capacity to stockpile rice and new varieties to ensure increased yields.
During a meeting at the Skeldon Sugar Factory, Ali informed the farmers that government, over the next two weeks will engage in a series of meetings to find a solution for the low prices currently being offered.
“You have to be involved. We have to be involved, the millers have to be involved, and of course, the markets have to be involved. You have to talk to the markets. We agree that this is not us, anybody fighting each other. One thing y’all know for sure is that you got a government who support you and a government that represents you and walk with you. So, there will be a lot of opportunists coming around now, political opportunists, and I’m very frank with you, who would come around as if they love you and care about you and they want to represent you,” he said.
Ali assured the farmers that his administration will work with them because they love them and genuinely want them to succeed. However, taking into consideration the complex situation at hand with dumping prices, markets with outstanding monies and over supply, they must find ways to maneuver.
“…as government, we are trying to navigate through that programme. You know, we’ve already said that in all of the rice producing regions, we have to now build storage capacity the government, where we will stockpile also. So, we can stockpile, we have to have the capacity nationally to stockpile maybe 5 million tons of rice, because we want rice to succeed,” the president said.
He urged farmers that they need to continue to cultivate the crop, as the government wants to continue to invest in “better variety to give you higher yield.” In order to do this, the appropriate infrastructure is needed to support it.
Farmers had taken to the street, protesting the prices being offered for their paddy and the huge amount that has been left to spoil on their hands.
Kaieteur News had received reports that some millers are offering a mere $2,800 per bag of paddy, $1200 less than what they received last crop, when the $400 government subsidy was added.
Farmers complained that the prices currently being offered are unsustainable.
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