Brazilian company seeks investment in Guyana rice sector

Guyana’s Agriculture Minister Robert Persaud (right) in recent discussions with the Brazilian team who are interested in putting money into the Caribbean country’s rice industry. (Photo:GINA)

GEORGETOWN, Guyana, April 9, 2009 – Brazilian company RiceTec is looking to invest in Guyana’s rice sector. The company has already conducted a feasibility study which indicated that conditions are suitable for hybrid rice cultivation.

Regional Director of RiceTec Markus Ritter said the company has limited production space in Brazil to meet its growing market demands and it’s therefore looking for alternative locations. He said the company will work with the governments of Guyana and Brazil to initiate the necessary protocols to commence the project.

Minister of Agriculture Robert Persaud said the initiative comes at a very important time.

“We ourselves are trying to do this at the state level and, the fact is, you can get it done because at the end of the day the rice cultivation activities are private sector driven; they will allow us to multiply the benefits of this programme,” he said at a recent meeting with a RiceTec team.

Persaud assured the team that Guyana has adequate cropping area, adding that the venture will create employment opportunities.

“The value added element is much more in processing and packaging; we would want most of it to be done on our side now,” the minister said.

He pointed out that with the construction of the Takutu Bridge linking Guyana and Brazil, the logistics should be easier to work out.

“We also have an arrangement with Brazil which allows for further trade arrangements. Further to that, if you come, working out of Guyana (will give) you access to the growing CARICOM (Caribbean Community) market,” the Agriculture Minister told the investors, noting that Guyana also has links to the United States market under the Caribbean Basin Initiative (CBI) and to Canada, through CARICAN.