Government has allocated $300m to develop the rice producing sector, Finance Minister Dr Ashni Singh yesterday announced in his 2023 budget presentation.
Singh explained that the sum will be spent on research and development to improve yields, identify and implement alternatives to insecticides to control the paddy bug problem; introduce new bio-fortified rice varieties and aid in finding new markets for the sector.
A portion of the sum will also be spent on the construction of two new drying floors in Regions 3 and 5 and advance other initiatives.
According to the Finance Minister while the sector continues to support employment in rural communities the industry remains a dominant contributor in the agriculture sector and is a staple in the food security agenda.
“Government remains focused on increasing production and yields,” he added.
Moreover, he told the House, in 2022, Government commissioned its national gene bank and soil tissue laboratory at the Burma Rice and Research Station.
These facilities have improve productivity through advancements in research and innovation to raise productivity and value added. Elaborating on the development of the sector, he said government procured a seed dryer and a mini testing mill and distributed over $900 million in fertilizer free of cost to 5,160 farmers.
With over $35.8 billion spent since taking office in 2020, he said there has been development to enhance the drainage and irrigation structures across Guyana; introduction of the GRDB 16 variety which resulted in 40 percent higher yields and construction of eight new drying floors in Regions 2, 3, 4, 5 and 6.
They have also been able to secure new markets in the British Virgin Islands, Estonia, Slovenia and Lebanon.
