Guyana to supply Venezuela with more than 50,000 tons of rice worth US$54M as part of four supply contracts signed between the countries

GEORGETOWN, Guyana , October 9, 2011 () – Guyana says it will supply Venezuela with more than 50,000 metric tons (55,000 tons) of rice worth $54 million.

Saturday's statement from the Agriculture Ministry says the shipments will be sent in upcoming weeks as part of four supply contracts signed between the two South American countries in recent years.

The rice shipments will help pay for the oil Guyana receives from its neighbor each month under preferential terms.

Guyana is the region's largest rice producer and exporter. It expects to produce a record 395,000 tons (358,000 metric tons) of rice this year.

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