Global drop in rice prices contributes to local price decline – GRPA

The decline in world market prices for rice is directly impacting the prices that local farmers are receiving. This is according to the President of the Guyana Rice Producer Association, Lekha Rambrich.

On Tuesday, rice farmers in Black Bush Polder, Corentyne Berbice took a stand and protested, demanding an increase in the price they receive for their paddy.

Currently, millers are offering $57,000 per tonne.

” We have to understand that world market price dropped significantly, a year ago to today. From $700Us and over per a tonne. It gone just about $400Us per tonne. And we have seen that rice price is on the lower end of the graph. Hopefully, very soon it can go back on the upper end,” Rambrich told the News Room.

He added,” as farmers, we have to understand it’s a fluctuation in the market and we are seeing the dip in the rice industry. Hopefully, things can get better soon.”

In Region Six alone, 78,000 acres of rice are under cultivation.

“We are projecting over a yield of 3 million bags of paddy. And that will pose a problem for us in Region Six. Because in this region, we don’t have the milling capacity to handle over 3 million bags of paddy or even 2.5 bags. To combine with that, last crop we have surpass paddy in the stock of over 90,000 tonne paddy. And that’s a serious problem,” he stated.

Rambrich emphasized that the rice crop yields significantly, with farmers expected to harvest an additional 3 to 5 bags of paddy. He said this increase in yield can help offset the lower prices farmers are currently facing.