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Revenue for Guyana’s rice exports increase 20 per cent

Revenue for Guyana’s rice exports increased by 20 per cent along as its volume in trade to other countries jumped last year.

An aerial view of Georgetown, the capital of Guyana.

According to the Guyana Rice Development Board’s export report, rice earnings increased to US$222.7 million as the volume of its production increased by 12 per cent. Comparatively, rice export in 2018 was only US$186 million.

White rice was the largest export earner, making up 51 per cent or US$128,105,107 million of the total amount.

“Jamaica and Trinidad were the largest CARICOM importers, importing 32,743 tonnes and 25,417 tonnes respectively. Guyana exported rice to ten CARICOM countries, namely; Antigua, Barbados, Dominica, Grenada, Jamaica, St Lucia, St Vincent, St Kitts, Suriname and Trinidad and Tobago.

– Guyana Rice Development Board

Exports of paddy, rice and rice by-products stood at 526,617 tonnes last year when Guyana shipped products to 35 countries, compared to the previous year when it exported 470,312 tonnes.

“The greatest amount of exports went to Latin American countries, with Venezuela being the largest buyer of rice from Guyana for 2019 with 177,682 tonnes (34 per cent of all exports),” said the Guyana Rice Development Board. “Second to Venezuela was Portugal with a total of 61,873 tonnes of rice being exported there, representing 12 per cent of the total amount of rice exported. “

Shipments to the Caribbean Community (CARICOM) increased 13 per cent to 69,956 tonnes, with value totalling US$35 million in 2019.”

Guyana’s rice production increased 12 per cent last year.
(Photo: Guyana Rice Development Board)

“Of this figure, Jamaica and Trinidad were the largest CARICOM importers, importing 32,743 tonnes and 25,417 tonnes respectively Guyana exported rice to ten CARICOM countries, namely; Antigua, Barbados, Dominica, Grenada, Jamaica, St Lucia, St Vincent, St Kitts, Suriname and Trinidad and Tobago.”

Just over forty per cent of rice shipped, or 214,190 tonnes, was sent to the European Union in 2019, compared to 146,092 the previous year. The receiving nations were primarily Portugal, Italy, United Kingdom and Spain.

Guyana’s rice production is expected to continue increasing in the coming years.

Latin American nations accounted for 46 per cent of Guyana’s rice exports as 241,919 tonnes were shipped, with Venezuela being the primary importer.

The Board said that with Guyana’s annual average yields increasing steadily, production will continue to increase in the coming years.