Guyana exporting rice to 47 countries as 12.4% growth projected for 2025

Building on a strong performance last year, the rice industry is slated to continue this momentum with a 12.4 per cent growth in 2025.

During his presentation of the national budget on Friday, Finance Minister Dr Ashni Singh disclosed that rice production for 2025 is targeted at 804,000 metric tonnes, which will be supported by a ramp-up in acreage cultivated and continued focus on deploying new and more productive varieties and enhancing research and development.

Last year, a 9.3 per cent growth was recorded. The Guyana Rice Development Board (GRDB) has reported rice production at 725,282 metric tonnes, compared with 653,706 metric tonnes the year prior. This performance was largely attributed to better yields, which improved to 6.6 metric tonnes per hectare in 2024 from 6.3 metric tonnes per hectare in 2023, with some producing regions having yields averaging above 7 metric tonnes per hectare.

Moreover, rice milling increasing by 51.5 per cent last year.

Additionally, the price of rice increased by 6.3 per cent to US$588.4 per metric tonne in 2024. This year, however, rice prices are expected to decline by 9.9 per cent to average US$530 per metric tonne as global output ramps up and India eases export restrictions.

Over the years, the PPP/C administration has constructed drying floors and a screening house, developed climate-smart rice varieties, increased investment in pest-resistant, biofortified and high-yielding varieties of rice, supported the development of value-added products, expanded export markets by eight to reach 47 countries, trained 2,440 farmers in rice crop husbandry, and reduced the sales commission paid by millers and exporters. It also provided direct support to farmers with the distribution of fertilisers at a total cost of $3.8 billion of which a sum of $2 billion was provided in 2024.

In 2025, the Finance Minister said investments will expand storage capacity at No. 56 Seed Facility and extend precision agriculture technology to farmers including specialised broadcast equipment to improve efficiency in crop management. Not including fertiliser support, Government contributed an amount of $524 million to the industry in 2024 and has budgeted $430.9 million for 2025.