The sod-turning ceremony for Guyana’s first climate-controlled rice storage hub is set for Friday at Onderneeming, along the Essequibo Coast in Region Two.
Approximately 2,000 rice farmers will benefit from the initiative, which seeks to strengthen storage capacity, improve post-harvest management and support the rice industry’s growth.
During an interview last Thursday, Minister of Agriculture Zulfikar Mustapha told the Department of Public Information (DPI) that the contract has been awarded and the first phase costs $1 billion.
The investment follows the government’s 2026 Budget commitment to increase rice-storage capacity through climate-controlled silos over the next five years.
The agriculture minister said the undertaking will be a game changer for farmers there, especially since paddy prices are usually very low in Essequibo.
The new facility is expected to provide an intended 10,000 tonnes of storage capacity to help farmers store paddy until they can get a better offer for their produce.
With the Guyana Development Bank now on stream, Minister Mustapha believes the agriculture landscape will change, allowing rice farmers to access loans that no longer make them indebted to millers.
“These soft loans coming out of the Guyana Development Bank, instead of going to the miller to take these inputs, they will have a small loan like $1 million, $1.5 million without any collateral, without any interest.”
Discover more from INews Guyana
Subscribe to get the latest posts sent to your email.
