Guyana declares rice surplus, searches for new markets

IndustriesAssociated Press

The South American country of Guyana is reporting a record rice harvest and is seeking new markets for its surplus.

The general manager of the Rice Development Board says farmers have produced nearly 627,000 metric tons (691,000 tons) of rice this year. Jagnarine Singh said Wednesday the amount is nearly 100,000 metric tons (110,200 tons) more compared with last year.

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He said the increase is a result of farmers improving their yields per acre.

Singh said officials are seeking to tap further into the U.S. and European Union markets, where buyers already have asked for samples.

Venezuela, Nicaragua and Panama are among the top current buyers.