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An aerial view of Georgetown, the capital of Guyana (File photo)

Guyana earns billions in rice exports this year

An aerial view of Georgetown, the capital of Guyana (File photo)

The Guyana Rice Development Board (GRDB) says the country has earned an estimated GUY$40 billion (One Guyana dollar=US$0.004 cents) in rice exports for the period January to October this year.

A Guyanese rice field. (Photo: Guyana Rice Development Board)

GRBD general manager, Nizam Hassan said that the revenue reflects a 12 per cent increase in volume and 10 per cent increase in value, when compared to the GUY$37 billion sold for the same period last year.

 “We continue to send product to all of our trading blocs. There has been an increase in the export to CARICOM (Caribbean Community) for the same period, 11 per cent increase in volume and 13 per cent increase in value,” Hassan said.

He said that the CARICOM countries, most notably, Jamaica, Dominica, Antigua, Barbados and Trinidad and Tobago, accounted for almost 61,764 tonnes of rice in exports totalling US$31 million in revenue.

(Photo: Guyana Sugar Company)

Jamaica has increased its purchase from last year, by 13 per cent. The country bought 29,258 tonnes of rice within the 10-month period at a cost of US$14.07 million.

Guyana has earned some US$79.4 million from exporting 215,637 tonnes of rice to the European Union for the January-October period. The chief contributor in that district is Portugal, which spent an estimated US$29 million for approximately 78,621 tonnes of rice.

For Latin American countries including Colombia, El Salvador and Venezuela, 193,167 tonnes of rice had been shipped from January to October this year, compared to 177,949 tonnes for the same period last year. That group contributed almost US$28 million.

While 453 tonnes of rice was shipped to the United States for January to October last year, 3,624 tonnes were requested this year for the same period.

GRDB’s statistics show that sale to the US this year has increased 699 per cent in volume and 747 per cent in value, when compared to 2019.