Paddy price up to $3,300 per bag for 2017 second crop

Farmers are expected to be paid $2,089 to $3,300 per bag of paddy for the 2017 second crop—an increase from the first crop price. This is according to the Guyana Rice Development Board (GRDB) which credited the availability of new markets, notably, Mexico, Cuba, and Panama.

The Rice board said the increase comes in wake of farmers’ decrying the high production cost of plying their trade.

General Manager (ag) of GRDB, Ms Allison Peters said records from the board showed farmers of Region 2 being paid the lowest prices for paddy. However, it was added that this crop has seen a significant increase in the Region.

Regions 4, 5, and 6 however, are being paid the highest prices per metric tonne in the country. The average price per bag of paddy for the current crop ranged between $32,130 to $46,140 per metric tonne.

Despite the upward trend in prices, the Rice Board, however, expressed disgust with millers who are still not paying farmers’ according to the grade of paddy.

“They are offering one flat price for all the grades and we are reminding millers that despite the increased prices being paid at present, all certification of paddy must be done in accordance with the Rice Factory Act,” the General Manager noted.

Prices set by millers are determined by a number of factors including the demand, the availability of markets and the world market price. The GRDB is advising farmers to only sell paddy to mills that are licensed for 2017.