Food: $17 Million for Producer Subsidy

The National Assembly of Panama approved funds to pay during the second half of the year, incentives to producers of rice, corn and milk grade C.

Friday, November 29, 2019

The Budget Commission of the National Assembly approved in favor of the Ministry of Agricultural Development (MIDA) $17,371,543, to pay incentives to producers, needs an official report.

You may be interested in "Crops in Central America: Main Figures in 2018"

The statement reviews that "... The minister of MIDA, Augusto Valderrama, explained that will be supported with non-refundable resources to rice producers, who sell their crop in shell, wet and dirty to the national industry, for the 2019-2020 cycle. He also indicated that they will support producers of grade C milk, which make sales to plants and dairy industries, corresponding to what corresponds to the last half of this year.

Valderrama said that these non-reimbursable funds will consolidate the national production of grains and milk, in addition to ensuring food security of the Panamanian population, through the strengthening of agricultural and dairy activity, because together they represent about 50% of the caloric contribution of the basic food basket.

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More on this topic

Rice Subsidy: In force until June 2020

July 2019

In Panama, the subsidy to producers of $7.50 per quintal of rice that expired on June 30, 2019, was extended again by the government, this time until June 30, 2020.

The signing of a resolution to support national rice producers took place on July 18 at a meeting held by President Laurentino Cortizo Cohen with the Minister of Agricultural Development, Augusto Valderrama, and directors of public agricultural sector institutions, the government said.

Subsidy on Rice Production Extended

September 2018

In Panama, the incentive of $7.50 applied to each hundredweight of paddy rice has been extended for the period from July 1, 2018 to June 30, 2019.

The Ministry of Agricultural Development (Mida) reported that in addition to the incentive of $7.50, it has been established that the price of a hundredweight of rice will be $17, (depending on the variations that occur in terms of promotions or discounts), which will be paid by the mills and intermediaries to local producers.

Panama: More Agro Subsidies

November 2015

Rice producers will receive $7.5 per hundredweight of rice, which will add to the $17 which they already receive from millers, and the dairy sector will receive up to 10 cents per liter.

In the case of the dairy sector, a grant of $2.7 million was approved which will be distributed only to Grace C milk producers.

Pressure From Producers Over Fiscal Reform

February 2012

Dairy farmers and rice growers continue to demand that the tax reform proposal made by the government of Nicaragua be enlarged, and are complaining about the high costs of production.

Furthermore, they fear that consumer prices will only be stable only for a short while, reported La Prensa in its online edition.

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