By News Source Guyana

President Irfaan Ali, this morning launched a crop insurance initiative which will benefit more than 6,000 rice farmers across the country.

The initiative is aimed at providing financial and other support to rice farmers that experience crop damage due to flooding, pesticide or pesticide infestation.

During the launch of the initiative in Essequibo, the President said the initiative is not just relief, but a lifeline for farmers who usually fall on hard times after experiencing crop destruction.

He said the initiative is part of a larger goal to enhance livelihoods, safeguard agriculture traditions and position Guyana as a regional front runner in climate smart agriculture

“We owe it to those who feed our nation, to ensure that they have a cushion should misfortune visit them. To the farmers, in Hampton Court, Devonshire Castle, Walton Hall and other areas in region 2 that flood frequently and those who lost harvest to floods, this programme is not just relief, it is a lifeline for you,” the President noted.

The President noted the important role the rice industry continues to play in the country’s economy, explaining that it has been one of the country’s leading agricultural exports. In 2024 rice contributed approximately 17.5% of the country’s agriculture GDP.

But beyond that, the President said the aim is to modernize the broader agriculture sector by investing in technology, science and research.

“For me, the wealth of our country is in Agriculture and our farmers can be assured, that the revenue from oil and gas would be used to transform the agriculture sector to make it profitable, to make it sustainable and to ensure that our farmers live a life of high-value and pride,” the President noted.

The crop insurance programme is being launched through UPL and PMI out of India, which will be offering a premium free crop insurance programme for rice farmers. According to Agriculture Minister Zulfikar Mustapha, such a programme is rare around the world.

“We have seen our rice industry continues to advance tremendously over the last four and half years, but despite those advances, our rice industry continues to wrestle with the unpredictable challenges pose by climate change, from sudden droughts to unexpected floods which can devastate harvest and endangers livelihood on those who rely on crops,” the Minister stated.

The rice industry has been performing well over the years.

Published Date: July 23, 2025