Last Updated on Monday, 3 June 2024, 19:12 by Writer
Guyana is preparing to boost the production of Vannamei prawns for export, with financing from US$100 million that have been set aside by a Trinidad-headquartered bank to develop agriculture in the 15-nation Caribbean Community (CARICOM), Agriculture Minister, Zulfikar Mustapha has said.
He said the aim is to produce 3,960 tonnes of prawns annually for export to the United States and the Caribbean. He said the projected annual revenue is US$71.5 million.
Mr Mustapha said experts from the Philippines were assisting Guyana in developing the project.
President Irfaan Ali told the annual general meeting of the Private Sector Commission, a federation of local business organisations, that government would demonstrate the viability of the project with 10 one-acre ponds, and then move on to develop 100 more acres. “We are going to provide all the technical assistance and capital support,” he said.
Ali said government would conduct a “complete feasibility” of the project that could see at least 300 youths being involved. He said financing would be sought from Republic Bank’s US$100 million CARICOM Sustainability Agriculture Credit Facility.
