Cariforum rice exporters will have a two-year period to adjust to full duty-free and quota-free access, trade negotiators have agreed under the new Economic Partnership Agreement with the European Union (EU).

In the meantime, countries have been granted a quota of 187,000 tonnes for 2008, representing a 29 per cent increase over this year's 145,000 tonnes serviced solely by Guyana.

The 2009 quota will be increased to 250,000 tonnes.

Under the new rice agreement, which takes effect January 1, 2008, farmers will also be freed of the €65/tonne they now pay on quota exports.

The present quota that is available to sole regional producer, Guyana, amounts to 145,000 tonnes.

Trade ambassador Dr. Richard Bernal says the new arrangement makes no distinction between whole-grain and broken rice, which means that Cariforum exporters should be better able to target the higher-priced markets for whole-grain rice, once supplies are available.

The agreement also contains a joint declaration committing the EU to keeping the licensing and other arrangements relating to the quota under review, said Bernal, to ensure that Cariforum exporters obtain the maximum benefit from the trade.

dionne.rose@gleanerjm.com

CARIFORUM-EU ECONOMIC PARTNERSHIP AGREEMENT