$28.9B expended on agriculture sector in first half of 2024

Of the $97.6 billion allocated to the Ministry of Agriculture in 2024, some $28.9 billion was spent on developing Guyana’s expanding agricultural sector during the first half of 2024.  

This is according to the mid-year report released recently by the Senior Minister in the office Of the President with Responsibility for Finance and Public Service, Dr Ashni Singh.

Notable initiatives undertaken by the government to enhance the agricultural sector, include the building of 75 new shade houses for high-value crops.

These crops are cultivated using hydroponics farming. They are a collaboration between the government and the private sector.

Some high-value crops include bell peppers, celery, broccoli, cilantro, carrots, lettuce, mint, cauliflower, chilli peppers, and tomato. This investment benefitted 43 farmers.

Additionally, in the sugar industry, over 2000 hectares of land were converted to cultivate and harvest sugar cane at the Rose Hall, Albion, Blairmont, and Uitvlugt Estates.  

A sugar dryer budgeted at $60 million will be installed by the end of the year. This will enhance the quality of the sugar and guarantee increased production within the industry.

Additionally, by the end of the year, the number of employees within the sugar industry is expected to increase to 8,300 persons.

Favourable results were also noted in the rice industry for the first half of the year.

According to the report, when compared to the same period last year, an increase of 19.8 per cent in production was observed.

Technical services and training were provided to rice farmers along with the introduction of advanced technological mechanisms which yielded benefits of higher productivity at lower operational costs.

A total of $526.5 million was spent by the Guyana Rice Development Board (GRDB) to support the industry.

Meanwhile, $60.7 million was spent to accelerate the expansion of the coconut industry within the past six months. About 13,000 seed nuts of the hybrid variety were imported from Brazil.

With the expansion of large-scale farming and the increased export of agricultural products, alongside the training of farmers in various agriculture disciplines, Guyana continues to solidify its position as the food basket of the Caribbean.

The government remains steadfast in its commitment to bolstering the agriculture sector by investing towards its advancement, and efficiency.

These efforts are part of Guyana’s commitment to reducing the Caribbean Community’s (CARICOM) US$5 billion food import bill by 25 per cent by 2025.