(Trinidad Guardian) Agro-processors renting State lands will now pay significantly less on their leases.
The announcement was made by Minister of Agriculture Lands and Marine Affairs Clarence Rambharat at Thursday’s sod-turning ceremony for the start of construction of a $25 million parboiled rice plant at Milton, Couva.
Rambharat said agro-processors paid around $70,000 to $100,000 annually per acre of land.
He said this has been reduced to $500 annually.
He it will be applicable to the terms of the lease and a set limit on the size of the site.
The minister said this new rate would not only apply to new applicants but to former lease holders. He said this was one of several ways the Government was encouraging investment in the agricultural sector.
Rambharat said the parboiled rice plant would also be funded to the tune of $17.5 million of the total cost from the Agricultural Development Bank.
Chief executive officer of Trinidad Parboil Limited Liaquat Ali said he expects the plant to be operational in 18 months time.
He said the plant is expected to produce 40 per cent of the 38,000 tonnes of annual local demand for parboiled rice.
Ali said this would translate into a savings of US$32 million in foreign exchange that would have otherwise gone towards the purchase of parboiled rice from external sources.
Ali said the plant would be able to absorb the 3000 tonnes of rice produced by local farmers and the remainder coming from Guyana.
He said T&T has the capacity to produce all the rice necessary.
He said TPL would also get involved with farmers to boost production.
The CEO said he sees rice as a viable crop for farmers, especially those suffering from praedial larceny.
The plant would be situated on three acres of land and generate employment in the construction and operational phase.
