MIDA has delivered $427 million to rice, corn, and milk producers


News from Panama / Friday, January 19th, 2024

The National Government, through the Ministry of Agricultural Development (MIDA), has delivered a total of US$427,095,915.62 to rice, corn and milk producers throughout the country through the Price Compensation program, from 2019 to January 2, 2024, details a report prepared by the National Directorate of Incentives and Trust (DINIFI).

Regarding rice, one of the most consumed grains by Panamanians, in the last four years producers have received US$351,479,571.96 in compensation, benefiting approximately 6,500 producers.

As for the corn sector, the DINIFI report indicates that for this same period US$43,171,934.86 has been paid, supporting 3,149 producers dedicated to the production of this grain.

While for producers of grade C milk the amount delivered has been US$32,444,408.80, fulfilling the commitment to help about 5,571 producers.

The compensation program emerged as an initiative so that producers can receive a fair price for their products in the face of the increase in inputs, which guarantees the continuity of our agricultural sector and that producers do not leave the fields.