Subsidy on Rice Production Extended

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.

Thursday, September 20, 2018

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.

See also "Central America: Rice Imports Up 29%" and "Imports of rice in Panama"

From a statement issued by the MIDA:

The Government of the Republic of Panama through the Ministry of Agricultural Development (MIDA), in favor of safeguarding the country's food security, wishes to publicise that the incentive to be given to national rice producers, referring to Law 107 of November 21, 2013, which includes an incentive of $ 7.50, will be extended for the period 2018-2019.

The decree, which was published in the Official Gazette on September 12, reaffirms the interest of the State in ensuring that each Panamanian has the best products to feed themselves with and at the best price.

Read full statement (In Spanish).

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