Ministers meet rice millers as falling global prices weigh on sector

Rice millers on Tuesday met with top government officials to discuss concerns over the current crop, as falling global prices put pressure on the industry’s competitiveness.

At the meeting were Agriculture Minister Zulfikar Mustapha, Minister within the Ministry of Agriculture Vikash Ramkissoon, and Senior Minister in the Office of the President with responsibility for Finance, Dr Ashni Singh.

Mustapha said the government had made significant investments in the rice industry over the last five years, which he credited with boosting yields nationwide. He told millers there had been no major shifts in domestic market prices compared with the previous crop.

Millers welcomed the government’s support but warned that weaker world market prices are eroding their competitiveness against larger rice producers.

Mustapha said consultations with farmers and millers will continue, stressing the government’s interest in ensuring farmers receive a favourable price for their paddy from millers.

Dr Singh, who joined virtually, said the rice industry will be around for decades to come, and urged against short-term approaches despite marketing challenges. He said the government and millers share an interest in keeping farmers in business.

He also announced plans to meet farmers nationwide in the coming days.

Earlier this year, the government allocated about G$2 billion for fertiliser subsidies. For the first crop of 2025, it invested just over G$1.9 billion to guarantee farmers no less than G$4,000 per bag of paddy.

The rice sector is considered a key pillar of Guyana’s agricultural economy. (DPI)