The Ministry of Agriculture says it is concerned about the excessive increase in prices for fertilizers and has contacted importer Geddes Grant and other entities on the issue.

In a press release the ministry said based on reports that some importers are charging extravagant prices for the item Geddes Grant, the main importer suggested a distributor price of $4,875 per bag of urea and a retail price of $4,975. The company said their supplier has increased the fertilizer cost but there is no need for distributors to excessively increase their prices.

They anticipate a reduction in the cost during the May/June rice growing season.

Agriculture Minister Robert Persaud, upon hearing of a delay in the shipment of fertilizer, arranged for the Guyana Sugar Corporation to loan 500 tonnes to the rice industry to ensure that farmers get their supply. At the same time the ministry is working with stakeholders on possible alternatives for the high import prices.

The ministry also noted that fertilizers, pesticides and herbicides are zero-rated under the Value-Added Tax Act.