Rice price going up by 10 to 15 per cent
Jamaicans are being warned to brace for a 10 to 15 per cent increase in the price of rice from Guyana following a hike in the cost to import gain.
Managing Director of Jamaica Rice Mills Derrick Nembhard says in mid-March, the Guyana Rice Development Board introduced a pricing schedule which requires Jamaican importers to pay US$400 per tonne if they are importing 1,500 tonnes or more.
However, if the Jamaican importers want less than the 1,500 tonnes they will have to pay more than US$400 per tonne.
Nembhard says as a result of the increase in the price of rice imported from the region, the cost is being passed on to consumers.
Recently, the Jamaica Rice Milling Company signed agreements with the Guyana Rice Development Board to import a total of 40,000 tonnes of rice from Guyana during 2016.
However, Nembhard says the Guyana Rice Development Board independently arrived at the pricing schedule.
Currently, Jamaica gets most of its rice from Guyana.
There is no indication whether the price of rice from outside the region also will increase.