The government has announced it will buy 500 million hundredweight and will rent agroindustrial infrastructure to store crops in areas in Panama East, Darien and central provinces.
The 500 hundredweight that the Ministry of Agricultural Development (MIDA) is committed to buying from local producers will serve to supply markets run by the Agricultural Marketing Institute (IMA).
The Institute of Agricultural Marketing is putting out to tender the construction of four metal components and silos with a capacity of 25,000 hundredweight each.
Panama Government Purchase 2016-2-70-0-07-LV-004 482:
"Studies, surveying existing structures, design, development, approval of building plans and construction of four (4) metal silos with their respective components with a capacity of 25,000 QQ c / u, and renovation of 12 storage silos, 8 of the working silos, cones and conveyors, central structure and bases of existing silos, and supply of 2 working silos, Pre cleaning and drying machines as part of the program to Renovate IMA Storage Silos, La Honda".
Congress has approved new rectory for the marketing of agricultural products in an effort to protect local producers from intermediaries.
From a statement issued by the National Assembly of Panama:
Bill 298 amending Law 70 of 1975, through which the Institute of Agricultural Marketing (IMA) is created and its functions are determined, passed on its third reading by the plenary of the National Assembly.
The subsidy given to producers of $7.50 per hundredweight of rice which expired on December 31, 2014 has been extended by the government until June 30, 2015.
From a statement issued by the Institute of Agricultural Marketing:
The Ministry of Agricultural Development (MIDA), through Resolution No. DAL-298-ADM-2014, resolved on 15 September 2014 to give support to rice producers and representatives from mills, with the goal of levelling out sales prices and purchases in this basic category of mass consumption by the population. Industry sources indicated that the government has been asked to provide financial backing to match the sale price of $24.50 per hundredweight of grain, against the purchase price of $17 offered by the representatives from the mills, on the basis of the provisions of the resolution of 15 September 2014.
An announcement has been made that negotiations are taking place with Chinese investors to build a slaughterhouse to process and export beef from La Chorrera.
The project, valued at $8 million, is seeking foreign capital investment and from representatives from the Municipality of La Chorrera, in order to create a joint venture to develop the plant and then allocate production to the local market, China and the United States.
Although a subsidy of $20 million for local production has been approved, calls are being made for the suspension of rice imports, even though the local supply is insufficient to meet demand.
According to industry representatives, the importation of rice has turned into a business which caused extensive damage to the rice industry during the past administration.
An agreement has been made with over 300 producers to buy at $22.5 a quintal the surplus that has not been placed on the market.
From a press release issued by the Presidency of Panama:
The national government will buy rice production through the Institute of Agricultural Marketing at a price of $22.50 per quintal following a consensus reached between the authorities and representatives from the Cocle Association of Rice Producers (ACOPRA) who met at Palacio de las Garzas.
The government has announced that it will pay up to $45 per quintal in order to supply food to solidarity programs.
The information was released by Oscar MacKay, deputy director of the Institute of Agricultural Marketing (IMA), adding that they currently have 1.3 million quintals in the national inventory, which will be enough to meet the demand for a couple of months.
Besides buying red beans, black beans and rice, agreements have been made for the regulation of imports, seeking funding for the sector, and production insurance payments.
The agreement reached between producers and the Government of the country, states that the Institute of Agricultural Marketing (IMA by its initials in Spanish), will buy 50 thousand quintals of red beans at $65 per quintal, and 38,000 quintals of black beans at $45 per quintal.
Not being self sufficient, Panama will again need to import more than one million quintals from abroad from July in order to meet domestic demand this year.
The supply of rice for domestic consumption in Panama is guaranteed until July 2012 with existing stocks of 2.7 million quintals of clean, dry husks in warehouses, according data from the Authority for Consumer Protection and Competition (Acodeco), recorded from January 30th to February 3rd, 2012.
Local production of the grain is increasing and approaching self-sufficiency figures, while prices are stable.
The cost of supplies has fallen considerably (50%), which enables an increase in planted area and it could exceed 70 thousand hectares, with yields in excess of 100 thousand quintals per hectare in 2009. In this manner, there would be enough production to achieve self-sufficiency.
More than $16 million per year are lost post harvest, so the center will be built with an investment of $2.6 million.
The study by the Institute of Agricultural Marketing (IMA) showed the loss volume and noted that it comes from the post-harvest handling of 25 food products. These results provide the basis for the creation of the Center for Post-Harvest Agricultural Technology.
The National Assembly will discuss a bill on rice fortification next Wednesday.
The project consists of fortifying white rice with vitamins and minerals where the government would provide a premix of fortified grain to millers and packers who should then add it to their production.
Producers must get the premix from warehouses indicated by the Institute of Agricultural Marketing.
The Government of Panama started consultations with the national productive sector, prior to the upcoming formal launch of the negotiations for a Free Trade Agreement with Canada.
The consultations will help to establish a negotiation strategy and will have the participation of representatives form the Ministry of Agricultural Development (Mida), the Institute of Agricultural Marketing (Ima) and the Public Services Authority (Asep), and others, a release from the Ministry of Trade and Industry (Mici) of Panama indicated.
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