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A mid-term perspective on agricultural diversification in Guyana

Year of publication 2022

Place of publication Rome, Italy ;

Pages 2p.

Author FAO

Publisher FAO ;

Product type Policy brief

ISBN 978-92-5-136725-4

Series title FAO Agricultural Development Economics Policy Brief

Series number 50

Synopsis (short abstract) Guyana’s agrifood systems are facing an increasing level of risk: rising sea-levels are eroding its coastal area, where much of the agricultural activity is located; recent off-shore oil discoveries threaten to crowd-out non-oil sectors; and a dependency on a limited number of agricultural export commodities exposes the agricultural sector to price and market volatility. The diversification of agricultural production and exports has the potential to generate growth and increase the resilience of the agricultural sector. This policy brief summarizes the main findings of the paper on "Diversification Perspectives of Guyana's Agrifood Sector". The objective is to identify a set of commodities with high export potential, which is in relative proximity to the current agrifood export basket. We find oil seeds, bovine meat, sunflower seed oil, fish flours (for animal feed), palm oil, fowl, cocoa beans, cocoa paste and sunflower seeds to be commodities with high export potential. These commodities share characteristics with the current agrifood export basket. This implies that expanding the exports of these goods will not be costly and is likely to promote economic development, agricultural sector growth and reduce risks associated with market concentration.

Cite this content as:

FAO. 2022. A mid-term perspective on agricultural diversification in Guyana. FAO Agricultural Development Economics Policy Brief, No. 50. Rome.

https://doi.org/10.4060/cc1329en

Language English

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    Guyana’s agrifood systems are facing an increasing level of risk: rising sea-levels are eroding its coastal area, where much of the agricultural activity is located; recent off-shore oil discoveries threaten to crowd-out non-oil sectors; and a dependency on a limited number of agricultural export commodities exposes the agricultural sector to price and market volatility. The diversification of agricultural production and exports has the potential to generate growth and increase the resilience of the agricultural sector. This study identifies Guyana’s diversification potential using comparative-advantage and export-sophistication metrics, which are combined for a proximity analysis based on Guyana’s production space. The objective is to identify a set of commodities with high export potential, which is in relative proximity to the current agrifood export basket. We find oil seeds, bovine meat, sunflower seed oil, fish flours (for animal feed), palm oil, fowl, cocoa beans, cocoa paste and sunflower seeds to be commodities with high export potential. These commodities share characteristics with the current agrifood export basket. This implies that expanding the exports of these goods will not be costly and is likely to promote economic development, agricultural sector growth and reduce risks associated with market concentration.
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