Guyana attracting more interest from int’l investors in corn & soya consortium – Pres Ali

– says interest high in expanding cultivation, reaching self-sufficiency by 2025

By Jarryl Bryan

Since the launch of the first trial of corn and soya cultivation in 2021, the industry has progressed at a rapid rate. So rapid, in fact, that the People’s Progressive Party/Civic (PPP/C) is not only projecting self-sufficiency in the production of this crop by 2025, but their efforts have been able to attract the interest of more foreign investors.

President Dr Irfaan Ali made this disclosure while addressing the Guyanese diaspora in Canada, where he is discussing Guyana’s development and the numerous investment opportunities, while also taking part in Canada Day celebrations.
During his presentation, he spoke about the Government’s overall plan for the agriculture sector and its desire to develop a modern, state-of-the-art dairy industry. When it comes to crops, the agenda is to produce high-value crops that can be exported.
“I’m going to speak to you about the creation of a food production system. Agriculture is just a subset of a food production system. What is it that will make us competitive? We have to produce high-value crops.”
“We have to invest in technology and use the technology. We have to train our people. We have to invest in drainage and irrigation. We have to open up new lands. We have to increase the yields and production that come from better variety,” Ali said.
At present, there is a consortium that includes Guyana Stockfeed Limited, Edun Farms and Bounty Farm Limited. Other investors are Royal Chicken, SBM Wood, Dubulay Ranch, and the Brazilian-owned N F Agriculture, who are cultivating over 1000 acres of soya bean crop in the Tacama Savannah. According to President Ali, there is international interest in joining the cultivation of corn and soya.
“When we started a few years ago, I said, I said to them, you guys are competitors. Very good. But I now want you to work on a project together. You guys must form yourselves into a consortium and in three years, you must be able to produce all the corn and soya we import,” the President said.
“By 2025, we will be self-sufficient in corn and soya production. We have been able to do it so well that now, we have international investors wanting to join the consortium to expand the corn and soya production for the global market,” he added.
Guyana’s corn and soya bean production has been on the rise, with the Government committing to the cultivation of these crops in the intermediate savannahs in order to become self-sufficient by 2025.
The large-scale trial cultivation of corn and soya beans by private investors was announced by the Government in 2021. In the feed industry, Guyana imports close to US$30 million in products annually. The aim is to not just attain self-sufficiency but also establish the country as a net exporter of soya.
The key stakeholders in the massive corn and soya bean project include the Government, farmers, and private companies. The Government has played a crucial role in supporting the growth of the industry, with a commitment of over $1.2 billion to infrastructural development in the Tacama area.
Last year, the Government improved access to the area by constructing 40 kilometres of road, with the remaining seven kilometres scheduled to be completed in 2023. Additionally, the Government invested in a drying and storage facility for corn and soya bean, which will be completed this year, establishing the first such facility in the country.
In 2021, the Government started the trial of 125 acres of corn and soya bean, which showed major success. Previously, Agriculture Minister Zulfikar Mustapha had said that the intention was to continuously increase production to cover at least 25,000 acres by 2025. The Minister had expressed the belief that the aim of becoming self-sufficient by 2025 was ambitious, but with the continued support of the Government and the private sector, it was achievable.
The Government’s investment in infrastructure and facilities is expected to significantly increase the yields and profits of farmers, and boost the country’s economy. Minister Mustapha has already announced his Ministry’s plans to start cultivating corn and soya bean in Moco Moco Village, North Rupununi.
The Ministry is also assessing the capacity in other regions, with the aim of taking the project there in the future. The commitment to expand the cultivation of these crops is in keeping with the Government’s manifesto promise.
Notably, the Administration plans to invest some $150 million in the construction of a wharf in the Tacama area to further support the industry this year. The project will provide critical riverine access to the area under cultivation, making it more accessible for farmers to transport and export their produce. There is also a plan for the construction of a 3000-tonne silo and an 80 tonne per hour drying tower at Tacama – likely to be completed by September.
Meanwhile, during his visit in Canada, the President met with the Guyanese religious community in Toronto… including the International Muslim Organisation of Toronto. Their masjid, which caters for over 6000 persons, has a strong Guyanese presence. The aim is to redevelop the masjid into a state-of-the-art facility with a residential complex.