Panama rice growers get $20 million subsidy

AN AGREEMENT to set the purchase price of rice and check for any increases in the final consumer price has been reached between millers, producers and Panama’s Ministry of Agricultural Development..

The industry will pay $17 per hundredweight for rice brought to plants and the Government will contribute an additional $7.50 per hundredweight produced, estimated to cost $20 million

The Minister of Agriculture, Jorge Arango, told La Estrella. that “… in fact the subsidy is directed towards the consumer, because what is sought is to sell rice cheaper. When we started the price control project millers had already bought the rice, so for it to be sold cheaper the subsidy was given to them. Now it will be given to the producer so that they can sell cheaper to the mills. “

“…The agreed prices are for the current crop – the first of the year – which will supply the consumer until December.
The second planting season begins in September and extends to October to be harvested in the dry season.”