Perspectives on diversification prospects for the agrifood industry in Guyana

This paper analyses recent structural changes to Guyana's economy, particularly in the agriculture sector, and their impacts on productive, commercial and economic performance. It identifies vulnerabilities and examines options for moving from a focus on a few commodities to a more diversified export basket. It further sheds light on variables that may influence agricultural demand such as increased tourism, changes in food consumption patterns and new regional markets. Guyana has one of the largest agricultural economies in the Caribbean, with sugar, rice, and livestock representing the most important subsectors. As a result of changes in international markets, particularly in the European Union, Guyana's production of export crops has lost some competitiveness. The importance of agriculture to the economy has also diminished due to the emergence of other sectors, such as mining and energy. Nevertheless, agriculture remains a significant source of employment, especially in rural areas. The report suggests that any effort to diversify the agriculture sector should focus on value chain development policies and programmes that can enable the country to fulfil local, regional, and international demands for high-value agrifood produce. This involves improving the environment in which farmers and agribusinesses operate. This report also identifies commodities that could provide a basis for greater product diversification, including oil seeds, bovine meat, fish flours, palm oil, cocoa products, and aquaculture products.