Guyana intercambia arroz por petroleo con Venezuela por valor de 48 millones de dólares
Guyana has agreed to ship US$48 million worth of rice to Venezuela to help pay for the oil it receives from its neighbour each month under preferential terms, officials said today
The government will export 50,000 tonnes of unmilled rice and 30,000 tonnes of white rice to Venezuela, said Jag Singh, director of Guyana's Rice Development Board. The deal marks a US$10 million increase from last year's agreement, he said.
Officials said earlier this year that the deal will help offset a US$160 million debt Guyana owes to Venezuela for oil. Guyana receives 5,000 barrels of oil daily under Venezuela's 2005 PetroCaribe accord, which sells fuel to allies at preferential terms.
Guyana expects to produce a record 395,000 tonnes of rice this year, a nearly 20,000-tonne increase from last year.
The country is the largest producer of rice in the Caribbean and exports about 70 per cent of its grain, most of it to the European Union.