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Despite increased production rice earned US$4M less than first half 2024 – BoG Report
(Kaieteur News) – In spite of rice production for 2025 seeing a significant increase, the sector still earned US$4M less than it did for the first half of last year, the half year report from the Bank of Guyana (BoG) said.
The earnings from rice exports which amounted to US$123.1 million translate to 3.1 percent below the level for the same period last year.
The report said that this is, “resulting from lower export price despite higher export volume. The volume of rice exported amounted to 224,963 metric tonnes, 5.5 percent or 11,807 metric tonnes more than the 213,156 metric tonnes exported one year ago.”
Rice exports to the European Union saw a decline to 19.7 percent from 35.8 percent in 2024, while CARICOM’s share increased to 21.5 per cent from 21.3 per cent one year ago. For Latin America, it increased to 54.6 per cent compared with 40.8 per cent in 2024.
Additionally, the average export price of rice decreased by 8.2 per cent or US$48.85 to US$547.35 per metric tonne from US$596.20 per metric tonne at the end June 2024.
On December 1, this publication reported that the rice industry expanded by 13.9 per cent in the first half of 2025.
That equated to a total of 410,194.0 tonnes in comparison to 362,029.5 tonnes in 2024. “In the first half of the year, 96,715 hectares were sown, an increase of 11,742 hectares or 13.8 per cent when compared to one year prior. Hectares harvested amounted to 95,788 hectares, an increase of 13.2 per cent when compared to end-June 2024,” the report said.
The performance of the sector is on account of larger numbers of acres being cultivated alongside greater productivity from the high yielding rice varieties, distribution of fertiliser and availability inputs as these were VAT exempted by the government.
This equates to a total of 410,194.0 tonnes in comparison to 362,029.5 tonnes in 2024. “In the first half of the year, 96,715 hectares were sown, an increase of 11,742 hectares or 13.8 per cent when compared to one year prior. Hectares harvested amounted to 95,788 hectares, an increase of 13.2 per cent when compared to end-June 2024,” the report said.
The performance of the sector is on account of larger numbers of acres being cultivated alongside greater productivity from the high yielding rice varieties, distribution of fertiliser and availability inputs as these were VAT exempted by the government.
The finance ministry had reported that Guyana’s rice industry was expected to grow by some 12.4 per cent this year.
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