Papua New Guinea, is one of the biggest consumers of rice, but doesn’t have the capacity to supply its demand.
Rigo Rice Managing Director Jeffery Kennedy in his presentation, during the Special Economic Zone Summit, said PNG imports more rice to feed its local demand.
“In PNG we are looking at 99.9% imports of rice, just to feed our local demand,” the Managing Director said.
“With the current global trends, this puts PNG in a very vulnerable spot, in terms of food security.”
Rigo Rice is one of the biggest rice projects in the Central Province and has been operational for more than five years.
In addition, they have invested more than K10 million to build a solid rice business.
They are also supporting local farmers to grow rice, and sell to them.
The Managing Director said, to ensure it continues to grow and meet domestic demands, this project will need the support of all stake holders including the government.
“Government has a very important role to play in rice farming and production when it comes to ensuring food security as an aspect of National security,” Kennedy said.
Minister of International Trade and Investment Richard Maru responded positively, saying the government is ready to give its support.
He said Rigo Rice deserves government support and recognition because they have earned the right to be supported.
Maru further added that the company already has a well established farm which needs to be expanded from 250 hectares to 6000 hectares.
“The government will assess Rigo Rice, and if we are convinced that Rigo Rice deserve our support because it is going to be profitable and sustainable, and all it needs is capital to buy machines, we will invest as an investor, as a joint venture partner, Maru explained.
He said Rigo Rice have also offered to assist the government, by helping other provinces and districts to set up commercial rice farms.
Rigo Rice is one of six projects that will be given Special Economic Zone License by the government this year.
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