Guyana and Venezuela have signed a third contract for the supply of rice and paddy to the oil-rich country to the tune of some US$48M.
Agriculture minister Robert Persaud on Tuesday said it was a significant agreement for Guyana in that it represented the largest of the three deals signed to date with Caracas.
“It will see us being able to export 30,000 tonnes of white rice at a price of US$800 per metric tonne and also 50,000 tonnes of paddy at a price of US$480 per metric tonne,” he said.
Under the last contract, which is winding down, Guyana will have exported 20,000 tonnes of white rice and 50,000 tonnes of paddy while the first was for 10,000 tonnes of white rice and 30,000 tonnes of paddy.
Persaud was quick to point out that while the Venezuela market represents a significant development for Guyanese exporters and farmers, it will not be to the detriment of its existing markets.