Cane farmers who met with Agriculture Minister Robert Persaud and a team from GuySuCo on Wednesday
Agriculture Minister Robert Persaud has pledged a whopping Gy$10 million to develop a revolving fund to assist small, private cane farmers. Persaud made this promise when he met with cane farmers on Monday, to discuss ways to further enhance cane farming in Guyana. He said private cane farming is a viable enterprise, noting that the industry will become more profitable, given the trend on the international market.
“Today there is increased competition and in fact increased competition for land for private cane farmers” he stated. Government he said has other new initiatives that will be introduced soon.
Persaud said, “For the smaller cane farmers, we recognise the need for financial support, but both parties will do it in a way that is sustainable. This is because when they go to the bank interest rates are not affordable, given the context of their operations”. The initial plan was to commit Gy$5 million towards a revolving fund, but with the contributions of GuySuCo, Gy$10 million was set aside for the fund, to help small cane farmers most immediately.
Once successful, the ministry has committed to expanding the amount granted.
Government in April had announced some new measures aimed at assisting the cane farmers. Following that announcement, private cane farmers receive Gy$5000 more per tonne of cane sold to GuySuCo. The charges to use punts and machinery of GuySuCo were slashed by 10 and 25 per cent respectively.
These measures implemented by government were to the tune of Gy$600 million.
Some 3000 cane farmers have benefited from the interventions by government and GuySuCo.
