Rice exports secure over $30B for Guyana this year to date

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For the period January to August this year, the country has reeled in over $30 billion (US $144,178,325) from rice exports after exporting 343,068 tonnes of rice, despite various challenges that have affected the economy.

The exports increased by six (6) percent in volume and seven (7) percent in value in comparison to the same period last year (2019) when 325,052 tonnes were sold by Guyana.

According to General Manager of the Guyana Rice Development Board (GRDB), Nizam Hassan, that there have been notable increases in several blocks where produce was delivered.

For CARICOM countries inclusive of Dominica, St. Vincent and Jamaica, over 50,000 tonnes of rice was shipped at a cost of over US $25 million for this year, when compared to the 44,355 tonnes sold during January to August last year.

HGP Nightly News understands that Guyana has managed to earn over US$66 million from January to August, 2020 for shipments to the European Union. It should be noted that in 2019, sales to the same location earned US$56 million, after 158,751 tonnes of rice was exported.

When comparing 2019 and 2020 exports to Latin America, date revealed an eight (8) and nine (9) percent decrease in volume and value respectively.

Hassan stated that this is due to the fact that Cuba was not able to benefit from rice exports from Guyana during this period and that simultaneuously exports to other countries such as Panama and Honduras decreased.

“Notwithstanding, they are other countries in which we did well. For example, we have sent 11,754 tonnes of rice to Colombia, compared to 2,204 tonnes in 2019. Exports to Venezuela was 90,328 this year and last year for the same period, we sold 74,912 tonnes.”

Additionally, in 2019, the United States of America (USA) received 256 tonnes of rice and the shipping amount increased to 3,006 tonnes this year to date.

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