US$60M saving on imports from corn, soya & shrimp production – Presi. Ali

By the end of 2027, Guyana is likely to save US$60 million on the importation of corn, soya and shrimp, President Dr Irfaan Ali has said.

The products are three of Guyana’s commodities for which production is being ramped up.

“In three product areas alone, by the time we get up to 2027, we will be saving more than US$60 million that we would have used for importation of key products,” President Ali recently disclosed while addressing the Guyana Marketing Corporation annual Awards and Dinner ceremony.

According to President Ali, the government has been investing heavily in the agriculture sector to ensure that local products are of high quality and standard.

“The corn and soya project is well on its way to achieve its self-sufficiency by the end of next year and then by the end of 2027 to make an important dent into the regional market.

“In the swamp shrimp industry we are now producing 700 to 800 percent more swamp shrimp than we were producing a year and a half ago but we are still exporting it in bulk to the diaspora,” President Ali explained.

And to complement this, he said value can be added to the products by improving packaging and processing.

“As we build out the aqua culture the prawns production and all of this, processing becomes an import part of what we are doing,” Dr Ali said.

President Ali also encouraged agro-processors to utilise the agro-processing facilities which were established across the country to enhance their products and ease major challenges such as transportation and logistics.