AreaDominican Republic

Commodity GroupRice

CommodityAll

Date10/03/2022

Policy CategoryProduction

Policy InstrumentProduction support, support prices

DescriptionReached an agreement with sector representatives seeking to safeguard the profitability of the sector, while also stabilizing consumer prices of rice. As part of the deal, it would dedicate DOP 450 (USD 8.1) million to extend a direct outlay of DOP 100 per fanega (USD 15 per tonne) to rice farmers, to be paid on top of the DOP 2 875 per fanega (USD 431 per tonne) that producers would receive from millers as a floor price under the warehouse receipts programme (the Programa Pignoración de Arroz). An additional DOP 25 (USD 0.5) million would go to purchasing certified seeds, while the duration of the Programa Pignoración de Arroz would be extended from 7 to 12 months and arrears to millers under the scheme would be settled.

NotesExchange rate as of 15 May 2022.