Prices of livestock...

From page 4 parcel and/or lb; for example, cabbage is four per cent less, while pumpkin dropped by eight per cent and carrots by five per cent respectively at the various markets.

In the recent 2023 budget presentation government allocated $2 billion towards food security as it moves ahead with plans to increase food production to become a regional food hub.

In addition, $200 million has been earmarked for innovative agriculture that will improve food production – a correlation can be drawn that improved food production is having a marked positive impact on price reduction at the markets.

Guyanese can look forward to the continuation of this stable trend as farmers encounter more favourable weather conditions and improved policy execution in the coming months, which is expected to incentivise production.

In 2022, food production received some $38 billion which saw an increase in climate-smart agriculture, as well as an increase in agro-processing facilities and training.

Moreover, food security continues to be a paramount policy initiative for the Government of Guyana, which holds lead responsibility for agriculture, agricultural diversification, and food security in CARICOM – spearheading the regional body’s quest to reduce its food import bill by 25 per cent by 2025.

According to the World Bank: “Guyana’s economy is expanding at an extraordinary rate, and is expected to remain one of the world’s fastest-growing economies in the medium term.”