Rice: $15 Million Investment in Industrial Plant

In Panama, the company Agrosilos S.A., invests in the expansion of its facilities located in the district of Chepo, the works include the construction of three new silos that will be used to store rice.

Friday, June 25, 2021

With the execution of this investment, this plant will now have nine silos, with capacity for 693 thousand quintals of rice storage, according to a press release from the Ministry of Agricultural Development (MIDA).

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Augusto Valderrama, head of MIDA said that "... the Chepo sector, in East Panama, is becoming a self-sufficient region and one of the country's top producers, and companies such as Agrosilos S.A. have had a positive impact on the production of this segment of agriculture."

Nunzio Girlando, president of Agrosilos S.A., explained that the "... company bet many years ago for Panama and this is a second phase of a project that will benefit the rice sector of the country and that confirms that the country is on the road to consolidation in the most consumed product which is rice."

CentralAmericaData reports highlight that during 2020 the main importer of rice in Central America was Costa Rica, with $88 million, followed by Guatemala, with $70 million, Honduras, with $69 million, Panama, with $59 million, Nicaragua, with $58 million and El Salvador, with $45 million.

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