Rice farmers have welcomed a government-backed crop insurance programme that will provide more than 6,000 farmers with three years of premium-free coverage, aimed at protecting their livelihoods from floods, droughts and other climate-related shocks.
The programme was officially launched on Wednesday by President Dr Irfaan Ali at the Anna Regina Secondary School before a large gathering of farmers from Regions Two, Three, Five and Six. It is being implemented in collaboration with the Ministry of Agriculture, the Guyana Rice Development Board (GRDB), UPL Costa Rica and Philip Morris International.
For many in the rice sector, the announcement marks a long-awaited lifeline.
“It is a relief for rice farmers when disaster strikes,” said Tekeram Sankar, known as “Terry”, a rice farmer from Anna Regina with over 40 years of experience. “This insurance will help secure our livelihoods. I thank the government for this bold and necessary step.” Similar sentiments were expressed by scores of farmers.
The programme will provide free insurance coverage for three years, with no premiums or hidden fees. The coverage is intended to mitigate the effects of adverse weather, such as extreme flooding or drought, helping farmers recover and return to production more quickly.
“This is not just about protecting crops,” President Ali told the farmers. “It’s about protecting people—the thousands of families who depend on rice farming to survive and thrive.”
He said the new insurance coverage would also improve farmers’ access to financing.
“With insurance, the risk is reduced, and so is the cost of financing,” he said.
The initiative also includes the introduction of modern agricultural technologies aimed at increasing yields and reducing production costs. A pilot programme will be launched in partnership with UPL, an international leader in biosolutions and precision farming.
“UPL is not just an insurance partner. They are leaders in technology, and their support will help us build a food system that supports our farmers from the ground up,” Ali said.
The president urged farmers, especially in Region Two, to form cooperatives to better access equipment and benefit from government-supported logistics and services.
“I do not want rice farmers to be at the mercy of any single individual,” he said. “We are setting up integrated services right here in your region to lower your costs and improve efficiency.”
Many farmers still remember the devastating floods of 2011 and 2021, which destroyed thousands of acres of rice and affected the livelihoods of more than 2,000 farmers. In 2011, the government injected over $2 billion in recovery support.
Agriculture Minister Zulfikar Mustapha said the 2021 floods were the worst in Guyana’s history, causing over $50 billion in agricultural losses and wiping out more than 27,000 acres of rice.
“Farmers were carrying the full burden of risk alone. Insurance was unaffordable. That changes today,” he said. “With this new plan, our farmers are no longer left exposed.”
He said 205,153 bags of fertiliser worth $1.5 billion and 18,613 bags of seed paddy worth $93 million were distributed after the 2021 floods. The aim now, however, is to prevent crises before they occur.
“This initiative is not just about risk reduction—it’s about empowerment,” Mustapha said. “It allows farmers to plan, plant, and produce with confidence.”
The new programme is intended to ensure that the sector’s growth is protected and that farmers will not have to start from scratch after each disaster.
Jai Shroff, global chief executive and chairman of UPL, praised Guyana’s leadership and reaffirmed his company’s commitment to the country’s rice sector.
“Very few countries are so relentlessly focused on agriculture,” Shroff said. “We admire President Ali’s proactive approach. UPL is proud to invest in technology and insurance that will make rice farming more productive and more resilient.”
He said the initiative would also help farmers access credit by building confidence among financial institutions.
President Ali and Minister Mustapha with officials at the launch
