18 Sept 2025
Guyana’s rice industry is on track for another record harvest in 2025, but falling global prices and a supply glut are casting a shadow over the sector’s export prospects.
President Dr. Irfaan Ali on Tuesday highlighted that global rice production has reached an “all-time high,” with major producers holding record stockpiles. This oversupply has pushed international prices downward, with the current global average for white rice at US$416 per tonne — significantly lower than expectations of local farmers and millers.
Despite these headwinds, the government has committed billions of dollars to safeguard farmer incomes. Recent measures include $2 billion in direct price support to guarantee at least $4,000 per bag of paddy, along with subsidies on fertiliser and seed paddy insurance, removal of VAT on agro-machinery and chemicals, settlement of Panama’s $1.5 billion debt to millers, and zero-rating of the Guyana Rice Development Board’s (GRDB) sales commission for 2025.
Production levels remain strong. The second crop spans 209,000 acres, yielding an average of 40 bags per acre — an estimated 8.3 million bags, among the highest in the nation’s history. While this underscores sector resilience, it also raises concerns about securing stable markets and profitable returns.
Finance Minister Dr. Ashni Singh and Agriculture Minister Zulfikar Mustapha are holding consultations with millers and farmers this week to craft strategies to cushion the impact of low global prices. Risk management tools are also being strengthened, with 69.4% of farmers enrolled in crop insurance and ten new weather stations set to become operational by mid-October.
President Ali assured stakeholders that there is “no need to scale back on local production,” but emphasized the importance of value addition, storage solutions, and trade diversification. He called for innovation in processing and new trade agreements to ensure Guyana’s rice sector remains competitive in the global marketplace.