President Dr Mohamed Irfaan Ali has announced that his government will allocate some $2.7 billion to assist rice farmers amid global declines in rice prices.
The head of state made the announcement on Wednesday ahead of COP30 in Brazil.
Similar to the first crop, President Ali explained that the government will pay rice farmers a minimum of $300 per bag of paddy to help cushion the impact of falling prices.
“That will be an injection of more than $2.7 billion to our rice farmers,” he stated.
The People’s Progressive Party/Civic (PPP/C) administration has played a major role in strengthening the rice industry, resulting in an impressive output of more than 725,000 tonnes in 2024.
In fact, a $2 billion investment was made in 2025 to subsidise fertilisers for thousands of farmers across the country.
Agriculture is a major anchor of Guyana’s non-oil economy and continues to perform well, according to the Ministry of Finance 2025 Mid-Year report, there was a recorded 9% growth in the agriculture, fishing, and forestry sector. (Department of Public Information)
