A $3 billion package will be set aside to support rice farmers as global market challenges intensify, President Dr Irfaan Ali announced on Thursday.
The Head of State said the measure was agreed during a consultative meeting with hundreds of farmers at the Arthur Chung Conference Centre, where concerns over rising costs and market pressures were raised.
Support will be delivered through cash transfers, with farmers cultivating 50 acres or fewer receiving $15,000 per acre, and those with more than 50 acres receiving $10,000 per acre.
Ali said the assistance targets active rice farmers, not absentee landowners, underscoring the sector’s importance to the country’s agricultural base.
He added that diversification efforts, including integrating high-value crops and livestock, are being pursued to boost resilience and incomes, alongside continued investment in infrastructure.
The President also pointed to global disruptions, including higher input costs, shipping constraints and geopolitical tensions, as key pressures on the industry, noting that the Government has previously intervened with tax relief, fertiliser support and subsidies to cushion shocks.
