HGP Nightly News – President Irfaan Ali is pointing to lower prices for some locally produced foods as evidence that the Government’s measures to tackle the cost of living are working, but the claim comes against a market where food prices continue to be a major concern for consumers.
Speaking on the Government’s measures, Ali said the price of chicken at farmers’ markets has almost been cut in half, while egg prices have also fallen significantly. He credited the reductions to the administration’s efforts to take costs out of agricultural production and to connect farmers more directly with consumers.
But the President’s claims are only one side of the picture.
What shoppers actually pay varies from market to market, vendor to vendor and week to week. Recent reporting from Georgetown markets has shown significant differences in egg prices, with vendors selling trays at varying prices depending on their suppliers, production costs and demand.
That means a reduction in the price of a particular product at a farmers’ market does not necessarily translate into a broad reduction in the overall grocery bill for the average household.
The Government, however, argues that its approach is designed to address precisely those underlying costs.
Ali said the administration reversed a 220 per cent increase in drainage and irrigation fees and a 600 per cent increase in land rental fees, which he said saves farmers about G$1.4 billion annually.
The Government has also removed taxes on a range of agricultural machinery, equipment and inputs, including fertilisers, agrochemicals and pesticides, while measures affecting fuel costs have also been introduced. At the consumer level, the administration restored zero-rated VAT on basic food items including flour, bread, crackers, biscuits and cooking oil.
The President also pointed to billions of dollars being spent on the agricultural sector, including G$28.1 billion for drainage and irrigation, G$5.7 billion for farm-to-market roads and G$4.9 billion to help reduce farmers’ costs through investment in drainage and irrigation infrastructure.
Another part of the strategy is the expansion of farmers’ markets through the Guyana Marketing Corporation, which the Government says is helping to shorten the distance between producers and consumers and reduce the difference between wholesale and retail prices.
Ali said the Government is also preparing zero-interest, zero-collateral loans of up to G$3 million for farmers, while investment is being made in fertiliser production, greenhouses, shade houses and hydroponics.
The administration also plans to open up an additional 100,000 acres of arable land, according to the President, as it seeks to increase domestic food production and reduce dependence on imported inputs and food.
Ali blamed some of the pressure on food prices on factors outside Guyana’s control, including the economic fallout from COVID-19, the Russia-Ukraine war, higher global prices for grains and fertiliser, climate-related shocks and movements in international currencies.
He also pointed to rising domestic demand as Guyana’s population and household incomes increase.
But for consumers, the central question is simpler: are these measures actually making the weekly grocery bill cheaper?
The Government’s figures point to reductions in selected products and lower costs for farmers. The experience in the wider market, however, is more uneven. Official inflation data continues to track changes in food prices, while market prices can fluctuate depending on supply, demand, production costs and the retailer or vendor.
Against that backdrop, Ali’s argument is that the Government is attacking food prices from the production side rather than simply subsidising consumers. Whether that eventually produces broad and sustained reductions across the grocery basket remains something consumers will judge at the markets and supermarkets.
The President also used his presentation to highlight increased access to the financial system. He said 119,807 accounts were opened across six commercial banks and two non-bank deposit-taking financial institutions, with 96 per cent of those accounts opened in the banking sector.
Between April and August 2026, he said, 59,951 new accounts were opened, while the total number opened between October 2024 and August 2026 reached 179,758.
Ali attributed the increase partly to the easing of requirements for opening bank accounts, presenting it as another part of the Government’s wider effort to expand economic participation.
