With the rice industry facing difficulties, government has set aside $400 million to assist the sector.

This was announced by President Bharrat Jagdeo at a news conference at State House following a meeting with farmers yesterday.

The Head of State described the situation as very difficult for the farmers based on the high cost of inputs, the difficulties that they have with some millers and the prices that are currently available for paddy. The President said he had asked the Rice Producers Association to hold consultations with farmers across the country to determine the best modes of utilizing these resources that will bring short-term relief while also ensuring that some of the problems the industry currently faces could be addressed in a more definitive, long-term manner.

He said the farmers will get back in touch with the government in the next few weeks to decide on the modalities for using the resources. The President said that they are looking to aggressively expand markets available for the industry. According to him, he was told that this year, the industry will probably be “producing more rice that we have ever produced in our history”.

Therefore, the country has to expand markets and marketing efforts, he declared.