$1B silo investment, $430M more for rice in 2026 -Dr. Singh
Government is moving to further strengthen the rice sub-sector through expanded investment, improved infrastructure, and new market opportunities, as part of its production-focused strategy for agriculture, according to Minister within the Office of the President with responsibility for Finance, Dr. Ashni Singh.
Addressing the National Assembly on Monday during the Budget presentation, Singh said government’s support to the rice industry over the past five years has resulted in steadily increased production.
“Mister Speaker, we support the rice sub sector with production-focused initiatives that will expand acreage and improve yields. This support has increased production steadily over the last five years,” Singh said.
He outlined several key interventions already implemented, including the distribution of climate-resilient and high-yielding rice varieties, construction of drying floors, expanded research and development, and efforts to promote value-added products and access to export markets.
“Key interventions that we’ve implemented include the distribution of climate resilience and high yielding varieties of rice to improve production and productivity, construction of drying floors, research and value added products, access to export markets and billions of dollars in direct support to farmers and millers,” he told the House.
Singh also highlighted the launch of a crop insurance facility provided at no cost to farmers, noting that Guyana is the first Caribbean country to introduce such a measure.
“We have also, Mister Speaker, launched a crop insurance facility at no cost. I am reminded by my distinguished colleague, the Minister of Agriculture, that we are the first country in the Caribbean to have ever done that,” he said.
Looking ahead, Singh said government plans to invest heavily in the sector over the next five years, with initiatives aimed at strengthening production, storage and value-addition.
“Mister Speaker, over the next five years, we will invest in seed processing facilities. We will establish rice producing clusters. We will promote domestic fertilizer production. We will increase storage capacity through climate-controlled silos, and we will work diligently to secure lucrative markets for paddy and rice,” he said.
He added that government will also develop and market value-added rice-based products.
To kick-start the construction of climate-controlled silos, Singh said $1 billion has been allocated in the 2026 Budget.
“Mister Speaker, just for the commencement of construction of the silos, an amount of $1 billion is provided in this year’s budget,” he said.
Singh also noted that Guyana is actively pursuing new trade opportunities for rice, including discussions with counterparts in Mexico and Europe.
On financial support, the Finance Minister reported that in 2025, excluding fertilizer and paddy subsidies, government spent $430.9 billion to support the rice industry, with an additional $430 million budgeted for the sector in 2026.
