-by NaAsia Bristol
President Irfaan Ali is calling for long-term purchasing agreements between farmers and agro-processors to help stabilize prices and protect farmers’ incomes.
He also says improved storage facilities and a regional food hub will be critical to managing food surpluses, preventing shortages and protecting the region against global market disruptions.
He wants farmers and buyers to agree on prices over the long term, allowing farmers to plan production and secure a reliable market for their crops, while supplying agro-processors with the raw materials they need.
“What we need to do is to ramp up production, but whilst we ramp up production, have a stable price that the farmers enjoy, and then lead that product into agri-processing. So we have the off-taker who have long-term off-take agreement at X price. The farmers agree with long-term prices so that they have safeguards from market susceptibility, and then that goes at input in agri-processing into the green seasoning that is taking the Caribbean market by storm,” he said.
The President also highlighted the importance of expanding food storage capacity to help Guyana manage changes in supply and demand.
He says a regional food hub, along with additional storage for poultry, rice, honey and fresh produce, would help build a buffer against shortages and sudden price increases caused by global market disruptions.
“That’s the dynamism of the food market today. That is why we have to invest in the regional food hub because in today’s market, just like oil, if you have massive storage facility for oil and you buy when oil is cheap and you can store that oil, you have a longer security period in terms of stability in your market. It’s becoming the same for food,” he added.
President Ali says these measures, alongside increased production and productivity, are expected to strengthen Guyana’s food security and support its role as a major food supplier to the Caribbean.