Rice price for Panama market still to be settled

With the recently announced sales deal with Panama, Guyana is hoping to cash in on the Central American country’s rice shortage which is projected to carry over into 2015 but a price is still to be settled.

Stabroek News understands that Guyana is hoping that packaged rice sales to Panama will be anywhere from US$500 to US$520 per tonne in the initial stages of the agreement. The commodity at the end of June averaged around US$414 per tonne, however since then world market prices for 25% broken rice have been as low as US$395 and as high as US$460.

This newspaper was told that that Guyana will be exporting 20% broken rice to Panama under the new agreement signed last Thursday at the …..To continue reading, login or subscribe now.

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