Some 6,500 paddy producers are set to benefit from a new agreement that guarantees a price of $4,000 per bag of paddy. This much-needed price increase comes after weeks of discussions between the government, millers, and farmers.
The announcement, made last week and reiterated during a meeting in Mahaica on Tuesday with Minister of Agriculture Zulfikar Mustapha and was met with overwhelming satisfaction from the farming community, who have long been calling for better paddy prices to cope with the financial strain caused by soaring fertiliser costs and unpredictable weather patterns.
Some farmers in attendance at he meeting. [Photo: Ministry of Agriculture ]The meeting, which saw the attendance of over 60 farmers, ended with farmers expressing their gratitude towards the government’s intervention.
Minister Mustapha, who played a pivotal role in securing the agreement, praised the President’s involvement in the discussions, which spanned several weeks. The government’s efforts, he said, were crucial in reaching a resolution that will benefit farmers across the nation.
Minister of Agriculture Zulfikar Mustapha. [Photo: Ministry of Agriculture.]“We worked closely with the millers, and I want to recognise the President’s role in these discussions. As a result, we were able to come to an agreement that guarantees farmers will receive no less than $4,000 per bag for their paddy,” said Mustapha.
While the majority of the farmers in attendance were pleased with the outcome, the meeting was not without its moments of contention. Two individuals raised critical remarks, questioning the direction of the discussions. However, Minister Mustapha swiftly addressed the concerns, reminding attendees of the importance of maintaining discipline in the meeting.
The new price structure will see a substantial financial boost for the farming community. According to the Minister, the agreement will inject an additional $2.7 billion into the pockets of farmers, offering significant economic relief to an industry that has faced many challenges over the past few years.
In terms of overall impact, Mustapha confirmed that approximately 6,500 farmers will benefit from the price increase, which is expected to have a ripple effect on the rice industry. With an estimated 232,000 acres of land cultivated for this season’s crop, the deal is poised to have a major impact on the agricultural economy.
“This agreement ensures that farmers will not only cover their costs but also make a profit,” Mustapha stated, adding that the government’s intervention was key to stabilising the market.
“This is a significant boost to the livelihoods of our farmers and will go a long way in securing the future of the rice industry.”
Over the past four years, investments in farming have seen increased yields, with farmers now producing more rice with better quality crops. In fact, the country’s rice production reached a record-breaking 725,000 metric tons last year, and the target for 2025 is set at 804,000 metric tons.
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