Commodity prices in Guyana remain stable across major markets

The Guyana Marketing Corporation (GMC) has projected for early 2023, prevailing retail prices which demonstrate the stability of non-traditional agricultural commodities across major domestic markets. This was revealed according to assessments made by the GMC in the Kumaka, Anna Regina, Parika, Vreed-en-Hoop, Diamond, Stabroek, Bourda, Mon Repos, and Skeldon municipal markets. Ground provisions, primarily cassava, eddoes, plantains, potatoes, and yams have retained similar commodity prices or have seen a reduction in consumer costs, while prices for livestock and poultry were reduced by seven per cent. With Guyana having a favourable climate in the coming months, it is anticipated that agricultural production will yield great results. Further, in 2022, food production was allocated G$38 billion, with more climate-smart agriculture being facilitated, with agro-processing facilities and training being prioritised by public agriculture-centred agencies. In addition, agri-technology, having been on the rise, is likely to derive more productivity in the agro-processing sector. The Government of Guyana, heavily focused on the non-oil economy and the sustainability of Guyana’s agriproduction, strongly holds their commitment to the Low Carbon Development Strategy. In approximately two years’ time, aims to fulfill to the farthest extent, their goal to reduce the CARICOM regional food bill 25% by 2025.

Source(Image: iStock, Department of Public Information )

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13 Jan 2023 17:00 | by anaraine