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Rice is doing much better than it was a year ago, and this has been made possible as a result of several interventions, including drainage and irrigation.

Minister of Agriculture Noel Holder speaking to the Government Information Agency (GINA) said last year, “We had the tremendous rainfall and the National Drainage and Irrigation Authority (NDIA) was able to bring relief, tremendous relief to the coastland …. I think in Region 2 and Region 6 and this brought tremendous relief flood-wise. Rainfall is on right now, as you know and flooding is not occurring.”

Apart from preventing floods, the Minister pointed out that, “During El Nino… the NDIA was able to bring water by tapping creeks further upstream to give farmers relief on the coast. So of the areas planted, only about 4 percent (of the rice crop) was lost due to El Nino situation. So I think that that shows how effective the NDIA efforts have been.”

For the first rice crop of 2016, 91,072 hectares were planted. At the end of March, Guyana had already exported 93, 582 tonnes which is six percent more that the corresponding period for 2015 which was 88,286 tonnes.

The Minister explained that despite Guyana losing the Petro-Caribe market shortly after the coalition government took office in May 2015; rice is in a much better situation market wise. He said  that the government has been exploring and establishing new markets, and has been able to increase the market share for Guyana’s rice, “at prices above world market prices so the rice industry is not really in that much crisis as people try to say.”

Official_Noel Holder

Amidst calls by the opposition People’s Progressive Party/Civic, for Guyana to re-enter the Venezuelan rice market, the minister said, “Guyana has met all the shipments to Venezuela, but Venezuela will not, bearing in mind the price of rice and  oil prices now hovering around US$30 a barrel or slightly above, enter into a similar agreement.”

As a matter of fact, the minister pointed out, that currently Venezuela’s agreement with Suriname is almost half the price of the Petro-Caribe agreement or slightly more than that, “So to go back with Venezuela wouldn’t really be any big advantage to farmers.”

The government however has since garnered new markets. According to Minister Holder, “we have developed now the Panama market… we have extended our market in CARICOM. Our Jamaican market should be almost double what it was last year, and we are also trying to finalise an arrangement with Mexico as a new market.”

Guyana signed agreements with two Jamaican companies to purchase 80,000 tonnes of the country’s rice, per annum. The companies have agreed to pay the Guyanese millers US$400 per tonne.

Panama has agreed to purchase over 11,300 tonnes of rice per annum from Guyana. More than 50 percent of this contract has already been serviced.

Projecting the future of rice, Minister Holder believes the time has come for Guyana to not only increase production on the coastland, but to move cultivation inland to the intermediate savannahs and focus on Manaus, Brazil with its almost two million population and within close proximity to Guyana, to capture the Brazilian mar

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skeldon_man posted:

Holder is living in a different world. He is in a world with Mr. T and Warria.

Suh what you sayin he making up the numbers.

Talking bout warria duh chap is missing,since he built that house.

Django
Django posted:
skeldon_man posted:

Holder is living in a different world. He is in a world with Mr. T and Warria.

Suh what you sayin he making up the numbers.

Talking bout warria duh chap is missing,since he built that house.

Warrie did not build a house.  He built a Banaff.

Billy Ram Balgobin
Billy Ram Balgobin posted:
Django posted:
skeldon_man posted:

Holder is living in a different world. He is in a world with Mr. T and Warria.

Suh what you sayin he making up the numbers.

Talking bout warria duh chap is missing,since he built that house.

Warrie did not build a house.  He built a Banaff.

Billy,new word bhai what's a Banaff ?? goole miss tha waan.

Django
Django posted:

 

As a matter of fact, the minister pointed out, that currently Venezuela’s agreement with Suriname is almost half the price of the Petro-Caribe agreement or slightly more than that, “So to go back with Venezuela wouldn’t really be any big advantage to farmers.”

 

interested on druggie's take on this.

We can give Granger credit for 3 things. Cleaning up G/T, holding LGE, and saving rice from the disaster that the PPP begs that it be placed in.

I think that Jagdeo is turned on by MadBURRO's "masculinity" and wants to find an excuse to visit him. 

FM
caribny posted:
Django posted:

 

As a matter of fact, the minister pointed out, that currently Venezuela’s agreement with Suriname is almost half the price of the Petro-Caribe agreement or slightly more than that, “So to go back with Venezuela wouldn’t really be any big advantage to farmers.”

 

interested on druggie's take on this.

We can give Granger credit for 3 things. Cleaning up G/T, holding LGE, and saving rice from the disaster that the PPP begs that it be placed in.

I think that Jagdeo is turned on by MadBURRO's "masculinity" and wants to find an excuse to visit him. 

A reference to homo-sexuality seem to make your day!!

Is this but you cover up your inadequacies, ranting brown KKK, blackman goa kill ahbee, and antimanism?  Banna, you have a mental problem!!

FM
Django posted:
Billy Ram Balgobin posted:
Django posted:
skeldon_man posted:

Holder is living in a different world. He is in a world with Mr. T and Warria.

Suh what you sayin he making up the numbers.

Talking bout warria duh chap is missing,since he built that house.

Warrie did not build a house.  He built a Banaff.

Billy,new word bhai what's a Banaff ?? goole miss tha waan.

Google is yet to discover the real Guyana.

Billy Ram Balgobin

The new government lost the Venezuelan rice market.  They send Nagamoottoo to Mexico to look for a new market.  He drink up the people tequila and came back empty handed.  Now, They are saying that Jamaica and Panama will buy their rice but hasn't sold any as yet so we still don't know if that is true or not.  They sent a ship load of rice to Belize and after sitting for weeks on the docks the rice was returned to Guyana.  They lied to the rice farmers saying that they will pay them $9,000 per bag for paddy and then actually paid them $3,000.

And now they have the nerve to tell people that rice is doing much better.  Whatever medication they gave Noel Holder at Balwant Singh hospital is making him high.  Really high.  High like a kite.

Bibi Haniffa
Last edited by Bibi Haniffa

So then you tell us the reading of the yearly economics results.  Let me start you off.  The growth of GDP from May 2015 to May 2016 was in negative territory.   The expenditures of the government during that period outweighed national income, which includes money made from goods and services, income from investments, and income made from taxes.

Bibi Haniffa
Bibi Haniffa posted:

So then you tell us the reading of the yearly economics results.  Let me start you off.  The growth of GDP from May 2015 to May 2016 was in negative territory.   The expenditures of the government during that period outweighed national income, which includes money made from goods and services, income from investments, and income made from taxes.

Show us how you arrived at this conclusion or did you just pull this out of your buttocks? In that case, please don't bother showing us. 

Mars

Let's give the benefit of the doubt to Holder, what the heck is 6% increase in rice exports to write home about?  Let's see the export nos for the other industries to see how we are doing net net.

alena06

The funny part of the rice shipment to Belize is that the Chief Justice who made the ruling for the rice to be shipped back to Guyana is no other than Guyanese Kenneth Benjamin.  He was a magistrate in Georgetown under the then President, Linden Forbes Sampson Burnham.

Bibi Haniffa
Bibi Haniffa posted:

The funny part of the rice shipment to Belize is that the Chief Justice who made the ruling for the rice to be shipped back to Guyana is no other than Guyanese Kenneth Benjamin.  He was a magistrate in Georgetown under the then President, Linden Forbes Sampson Burnham.

This shows the PNC peeps are not clannish as your people dem and unlike those in the PPP, they have a mind of their own and they use it..

cain
Last edited by cain
Mars posted:
Bibi Haniffa posted:

So then you tell us the reading of the yearly economics results.  Let me start you off.  The growth of GDP from May 2015 to May 2016 was in negative territory.   The expenditures of the government during that period outweighed national income, which includes money made from goods and services, income from investments, and income made from taxes.

Show us how you arrived at this conclusion or did you just pull this out of your buttocks? In that case, please don't bother showing us. 

You really doan think the lady got a nice nice bamsy?

cain
cain posted:
Bibi Haniffa posted:

The funny part of the rice shipment to Belize is that the Chief Justice who made the ruling for the rice to be shipped back to Guyana is no other than Guyanese Kenneth Benjamin.  He was a magistrate in Georgetown under the then President, Linden Forbes Sampson Burnham.

This shows the PNC peeps are not clannish as your people dem and unlike those in the PPP, they have a mind of their own and they use it..

Ha. Glad you mentioned.  The PNC elitist posse living in Belize was trying to hijack the Belize market.  But the Belize Gov't have some smart guys like Jagdeo and Mr. Benjamin was ordered to deliver that ruling.  Now that Belize door is shut tight in their face.  They lost all the rice, the cost of shipping, the labor involved,  and everything else that came with it.   You want to know what was the price tag on that loss to the Guyanese taxpayers???

Bibi Haniffa
ba$eman posted:
.

Is this but you cover up your inadequacies, ranting brown KKK, blackman goa kill ahbee, and antimanism?  Banna, you have a mental problem!!

Baseman you copy every comment about blacks from the KKK manual.  Why aren't you proud to be called brown bai KKK?  It merely shows that your learned your anti black bigotry well.  Good job.

Now as to Jagdeo.He really ought to keep his lust for MadBURRO under better control. Why does he scream that Guyana should give away rice (as Venezuela cannot pay us)? 

As it is Suriname is now locked into a bad price. Serves them right for betraying Guyana, a fellow CARICOM nation.

Not only are Venezuelans eating cats and rats, but even poor Dominica is discussing whether they should give them US$ 1 million.

 

FM
Bibi Haniffa posted:

So then you tell us the reading of the yearly economics results.  Let me start you off.  The growth of GDP from May 2015 to May 2016 was in negative territory.   .

Just because Jagdeo told you this, it doesn't mean that it is true. 

FM
Bibi Haniffa posted:
cain posted:
Bibi Haniffa posted:

The funny part of the rice shipment to Belize is that the Chief Justice who made the ruling for the rice to be shipped back to Guyana is no other than Guyanese Kenneth Benjamin.  He was a magistrate in Georgetown under the then President, Linden Forbes Sampson Burnham.

This shows the PNC peeps are not clannish as your people dem and unlike those in the PPP, they have a mind of their own and they use it..

Ha. Glad you mentioned.  The PNC elitist posse living in Belize was trying to hijack the Belize market.  But the Belize Gov't have some smart guys like Jagdeo and Mr. Benjamin was ordered to deliver that ruling.  Now that Belize door is shut tight in their face.  They lost all the rice, the cost of shipping, the labor involved,  and everything else that came with it.   You want to know what was the price tag on that loss to the Guyanese taxpayers???

Belize importer given option to ship out seized Guyana rice

January 16, 2016 Source

Belize: Jack Charles, the businessman who imported 75 tonnes of Guyanese Grade A white rice to retail for 69 cents per pound, must get the rice out of Belizean territory before January 26, or lose his investment.

Belize importer, Jack Charles

Belize importer,
Jack Charles

That is at least until he can get the phytosanitary certification he needs to import rice into the country.
At another closed-door session on Tuesday, Charles, through legal representation, opted to ask for time to arrange for the rice to be shipped out of Belize – a process he had indicated would take a month to do. Charles sought the Supreme Court’s intervention to overrule a decision that Senior Magistrate Sharon Fraser had made last week, to grant the Customs Department permission to destroy the grain. Charles’s attorneys sought for and got the “stay” until Chief Justice Kenneth Benjamin could hear his final application.
Both sides came to an agreement in closed chambers and in an interview with reporters the following day, Prime Minster Dean Barrow, explained that he, as the Minister of Finance, had given Charles his assurance that there is an easier way to allow him to take the rice out of Belize without any further court proceeding. But Charles, being the one who needs time to prepare his shipment, had to put it in writing.
“He was told that he needs to make a formal application to me as the Minister of Finance. Because there is the forfeiture order and unless the Supreme Court was to overturn that order, only the Minister of Finance can give you and opt out. He has agreed to do that…I’ve signaled that I am perfectly prepared to give him the forfeiture override so that he can get the rice out…it is a question of Mr. Charles having to go through the right procedure if he is to have any chance of being able to import rice,” Barrow said.
Barrow explained there is no rice war between Belize and Guyana and that Belize’s Deputy Prime Minister, Gaspar Vega, and his ministry’s CEO, Jose Alpuche, were in Guyana meeting with their counterparts. He continued that the Belizean government’s interests lie in the protection of the local rice farmers and the local rice industry.
He continued, “Even if no progress is produced there (in Guyana), there are mechanisms under the Treaty [of Chaguaramas] for us to make certain applications in terms of our need to protect the local rice industry.”
But under the CARICOM Single Market and Economy (CSME) agreement, there is nothing to stop Charles from importing rice into Belize, once he goes about it following the proper procedure. CARICOM Secretary General, Irwin LaRocque, pointed out recently that sanitary and phytosanitary certificates cannot be used as a method to block or prevent the trade of goods among CARICOM countries.
Charles has maintained all along that he had applied from the Belize Agricultural Health Authorities (BAHA) for the requisite permit, but had not been granted one, nor was he offered a reason as to why it wasn’t granted.
It is expected that Charles, who has racked up steep storage fees and accompanying reshipping fees now, will send the rice off to the Port of Honduras and await the necessary permits from BAHA for a new application he has placed, this time also for an additional shipment of rice from Guyana.


 

Are you saying the importer  Jack Charles,did not pay for the rice and cost for shipment,can you provide some details about this transaction to show how the GRDB loss on this deal.

Django
ba$eman posted:

Rice doing better in Holder's head.  He talking to the section of Guyana who probably never carry a bag of rice paddy.

Hey baseman.  Tell us about your plan to mortgage rice to a country so bankrupt that its people have to scavenge for food.

MadBURRO is off to Trinidad to beg for something.  Trinidad is preparing for a refugee crisis.

I would think that God intervened when MadBURRO decided to stop buying Guyanese rice. Now the Surinamers languish at prices that are sharply lower, and with low oil prices the PetroCaribe deal is virtually null and void.

I also note that Uruguay apparently decided that supplying MadBURRO wasn't a good idea after all.

FM
caribny posted:
ba$eman posted:

Rice doing better in Holder's head.  He talking to the section of Guyana who probably never carry a bag of rice paddy.

Hey baseman.  Tell us about your plan to mortgage rice to a country so bankrupt that its people have to scavenge for food.

MadBURRO is off to Trinidad to beg for something.  Trinidad is preparing for a refugee crisis.

I would think that God intervened when MadBURRO decided to stop buying Guyanese rice. Now the Surinamers languish at prices that are sharply lower, and with low oil prices the PetroCaribe deal is virtually null and void.

I also note that Uruguay apparently decided that supplying MadBURRO wasn't a good idea after all.

Listen man, that rice market to Venezuela was incremental to what Guyana had.  This is what propelled the growth in output to unprecedented levels so they did not a bet of one vs another.  What do they do, sit back and say we don't want it, but we don't know where else to get the market??  Maybe, that's your PNC model.  The fact that the PNC destroyed the relationship and the market, don't hang that on the PPP, it's you guys doing!

You are all pure talk, talk, criticize criticize, but you can do nothing.  You even criticize the PNC.  I never heard you have anything positive to say about anyone, PNC, Burnham, Hoyte, Granger, Jagans, Jagdeo, Ramotar.  You seem to think only you knows.  Well go and run for office and show everyone what Caribj can do!!

I guess not, you are a talker!!

FM
Django posted:
Bibi Haniffa posted:
cain posted:
Bibi Haniffa posted:

The funny part of the rice shipment to Belize is that the Chief Justice who made the ruling for the rice to be shipped back to Guyana is no other than Guyanese Kenneth Benjamin.  He was a magistrate in Georgetown under the then President, Linden Forbes Sampson Burnham.

This shows the PNC peeps are not clannish as your people dem and unlike those in the PPP, they have a mind of their own and they use it..

Ha. Glad you mentioned.  The PNC elitist posse living in Belize was trying to hijack the Belize market.  But the Belize Gov't have some smart guys like Jagdeo and Mr. Benjamin was ordered to deliver that ruling.  Now that Belize door is shut tight in their face.  They lost all the rice, the cost of shipping, the labor involved,  and everything else that came with it.   You want to know what was the price tag on that loss to the Guyanese taxpayers???

Belize importer given option to ship out seized Guyana rice

January 16, 2016 Source

Belize: Jack Charles, the businessman who imported 75 tonnes of Guyanese Grade A white rice to retail for 69 cents per pound, must get the rice out of Belizean territory before January 26, or lose his investment.

Belize importer, Jack Charles

Belize importer,
Jack Charles

That is at least until he can get the phytosanitary certification he needs to import rice into the country.
At another closed-door session on Tuesday, Charles, through legal representation, opted to ask for time to arrange for the rice to be shipped out of Belize – a process he had indicated would take a month to do. Charles sought the Supreme Court’s intervention to overrule a decision that Senior Magistrate Sharon Fraser had made last week, to grant the Customs Department permission to destroy the grain. Charles’s attorneys sought for and got the “stay” until Chief Justice Kenneth Benjamin could hear his final application.
Both sides came to an agreement in closed chambers and in an interview with reporters the following day, Prime Minster Dean Barrow, explained that he, as the Minister of Finance, had given Charles his assurance that there is an easier way to allow him to take the rice out of Belize without any further court proceeding. But Charles, being the one who needs time to prepare his shipment, had to put it in writing.
“He was told that he needs to make a formal application to me as the Minister of Finance. Because there is the forfeiture order and unless the Supreme Court was to overturn that order, only the Minister of Finance can give you and opt out. He has agreed to do that…I’ve signaled that I am perfectly prepared to give him the forfeiture override so that he can get the rice out…it is a question of Mr. Charles having to go through the right procedure if he is to have any chance of being able to import rice,” Barrow said.
Barrow explained there is no rice war between Belize and Guyana and that Belize’s Deputy Prime Minister, Gaspar Vega, and his ministry’s CEO, Jose Alpuche, were in Guyana meeting with their counterparts. He continued that the Belizean government’s interests lie in the protection of the local rice farmers and the local rice industry.
He continued, “Even if no progress is produced there (in Guyana), there are mechanisms under the Treaty [of Chaguaramas] for us to make certain applications in terms of our need to protect the local rice industry.”
But under the CARICOM Single Market and Economy (CSME) agreement, there is nothing to stop Charles from importing rice into Belize, once he goes about it following the proper procedure. CARICOM Secretary General, Irwin LaRocque, pointed out recently that sanitary and phytosanitary certificates cannot be used as a method to block or prevent the trade of goods among CARICOM countries.
Charles has maintained all along that he had applied from the Belize Agricultural Health Authorities (BAHA) for the requisite permit, but had not been granted one, nor was he offered a reason as to why it wasn’t granted.
It is expected that Charles, who has racked up steep storage fees and accompanying reshipping fees now, will send the rice off to the Port of Honduras and await the necessary permits from BAHA for a new application he has placed, this time also for an additional shipment of rice from Guyana.


 

Are you saying the importer  Jack Charles,did not pay for the rice and cost for shipment,can you provide some details about this transaction to show how the GRDB loss on this deal.

PNC fanboy, I am saying that Jack Charles DID NOT pay for the rice or the cost of shipment.  You show me the proof that he paid for it!!!

And to be fair to him, why should he pay for something that he did not receive????

When you go to a store, do you pay for something that you did not receive???  You are worse than shameless to make a claim like this.  All in the name of the PNC!!!!

Bibi Haniffa
Last edited by Bibi Haniffa
ba$eman posted:
 

Listen man, that rice market to Venezuela was incremental to what Guyana had. 

And now its over.  Venezuela is broke and cannot afford Guyana rice.

The PPP wanted to send rice to Guyana.  Now if the rice farmers did, and end up being owed, just like how Venezuela owes Caribbean Airlines US$ 50 million, what would you do?

Yes I know that when the rice farmers began bawling that Venezuela didn't pay them you would scream that Granger was an ass for sending rice to that country.

Tell your buddy Jagdeo to quit his lust for MadBURRO.

Note that MadBURRO isn't coming to see him to ask for favors.  Jagdeo must be howling in jealous rage.

FM
Last edited by Former Member

Rice production was expected to decline by 8.4 percent from the 2015 level to 630,028 metric tonnes.

 

REALITY - first crop is down 35 percent compared to 2015.

 

So what is Holder talking - sheer crunt.

FM
caribny posted:
ba$eman posted:
 

Listen man, that rice market to Venezuela was incremental to what Guyana had. 

And now its over.  Venezuela is broke and cannot afford Guyana rice.

It might be over for your PNC dunda heads.  Guyana and Venezuela was in a barter system, rice for oil deal.  Now, don't tell me Venezuela run out of oil!  But than again, is [fabricator] Caribj we talking here!!

FM
caribny posted:
Django posted:

 

As a matter of fact, the minister pointed out, that currently Venezuela’s agreement with Suriname is almost half the price of the Petro-Caribe agreement or slightly more than that, “So to go back with Venezuela wouldn’t really be any big advantage to farmers.”

 

interested on druggie's take on this.

We can give Granger credit for 3 things. Cleaning up G/T, holding LGE, and saving rice from the disaster that the PPP begs that it be placed in.

I think that Jagdeo is turned on by MadBURRO's "masculinity" and wants to find an excuse to visit him. 

Lets hear from the rice farmers, not the pnc propaganda machine. Remember back in PPP time, everytime they tooted their own horn they came in for serious criticism from you folks? Well expect the same now that your party is in power. 

FM
KishanB posted:

Rice production was expected to decline by 8.4 percent from the 2015 level to 630,028 metric tonnes.

 

REALITY - first crop is down 35 percent compared to 2015.

 

So what is Holder talking - sheer crunt.

Well, these "lowest common denominator" folks say Hoyte was a great success and should have been voted back in because 1992 was better than 1991!!

FM
ba$eman posted:
caribny posted:
ba$eman posted:
 

Listen man, that rice market to Venezuela was incremental to what Guyana had. 

And now its over.  Venezuela is broke and cannot afford Guyana rice.

It might be over for your PNC dunda heads.  Guyana and Venezuela was in a barter system, rice for oil deal.  Now, don't tell me Venezuela run out of oil!  But than again, is [fabricator] Caribj we talking here!!

So essentially you are saying that rice farmers should get paid less.  If oil prices are down, clearly so will the price that the farmers are paid.

Not too bright you are!

FM
caribny posted:
ba$eman posted:
caribny posted:
ba$eman posted:
 

Listen man, that rice market to Venezuela was incremental to what Guyana had. 

And now its over.  Venezuela is broke and cannot afford Guyana rice.

It might be over for your PNC dunda heads.  Guyana and Venezuela was in a barter system, rice for oil deal.  Now, don't tell me Venezuela run out of oil!  But than again, is [fabricator] Caribj we talking here!!

So essentially you are saying that rice farmers should get paid less.  If oil prices are down, clearly so will the price that the farmers are paid.

Not too bright you are!

Fool, Petro Caribe had hedges built in!  But you fool are like chicken without heads.  BJ would wrap rings around you with in pinky!

You are a fool.  Besides, yes prices would go down, so would the national petrol bill.  It also went the other way!

You PNC types are true dunda heads!!

FM
ba$eman posted:
 

 

You are a fool.  Besides, yes prices would go down, so would the national petrol bill.  It also went the other way!

 

The bill will go down, and so will the price for rice.

Let me help you.  If the price per ton of rice is tied to the price per barrel of oil, and the oil price drops, so too does the price for rice.

Now given that oil is but one of several costs for the farmers, but most earn almost all of their income from the sale of rice, it becomes obvious to all, except to a brown bai KKK like you, that the drop in revenues will be GREATER then the drop in costs. This means that the farmers will get LESS.

Evidence of this is that the Suriname rice farmers are getting LESS than what the Guyanese farmers got a few years ago, as the price of oil is less.  Interestingly enough, their costs are even HIGHER than are Guyanese.

I am also of the impression that Petro Caribe kicked when oil prices were higher than they are today.  So the "hedge" implied is now worthless, unless you tell me that Guyanese rice farmers are sophisticated enough to hedge.

BTW you do know that Guyanese rice farmers aren't directly exchanging rice for oil. That is at the gov't level!

FM

In addition brown bai KKK, Venezuela has a severe currency crunch. You think they are going to sell their oil in exchange for rice, when they need it to service debt, so that they aren't completely cut off from the global markets?

 

Now tell me why do you think that MadBURRO is begging to meet Rowley.  Do you think that he is there to negotiate when he will pay Caribbean Airlines the US$50million that he owes them?

No. He wants to beg T&T to refine his oil, as he destroyed his refineries.  That way he will benefit from some sort of revenue sharing, and reduce the extreme distress that he has plunged that formerly wealthy nation into.

T&T and Venezuela are both extremely dependent on petro/gas.  How come Trinis aren't rioting in the streets for food, suffering extensive blackouts, and extreme water issues?

I repeat.  Brilliance isn't a characteristic that you can be accused of having.  But then one cannot see that smart people would join either the white or the brown KKK.

FM
Last edited by Former Member
caribny posted:
ba$eman posted:
 

 

You are a fool.  Besides, yes prices would go down, so would the national petrol bill.  It also went the other way!

 

The bill will go down, and so will the price for rice.

Let me help you.  If the price per ton of rice is tied to the price per barrel of oil, and the oil price drops, so too does the price for rice.

Now given that oil is but one of several costs for the farmers, but most earn almost all of their income from the sale of rice, it becomes obvious to all, except to a brown bai KKK like you, that the drop in revenues will be GREATER then the drop in costs. This means that the farmers will get LESS.

Evidence of this is that the Suriname rice farmers are getting LESS than what the Guyanese farmers got a few years ago, as the price of oil is less.  Interestingly enough, their costs are even HIGHER than are Guyanese.

I am also of the impression that Petro Caribe kicked when oil prices were higher than they are today.  So the "hedge" implied is now worthless, unless you tell me that Guyanese rice farmers are sophisticated enough to hedge.

BTW you do know that Guyanese rice farmers aren't directly exchanging rice for oil. That is at the gov't level!

What did I say?  That is the hedge on both sides.  That was the win win for bother countries.  It was a barter arrangement which benefited both sides.  This dampen the effect of commodity price fluctuation for both nations.  Guyana was ensured a certain oil supply for a certain quantity of rice. In looking at world prices when oil prices was high and vis-a-vis the spot prices of rice, the deal was sweet for Guyana.  Even at today's lower oil prices, the deal is still sweet as rice prices also came down.  Why do you think other nations scrambled to take the Guyana share of the rice?

FM

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