A US$1.4 million Parboiled Rice Factory is among the recent investments undertaken by one of the country’s leading rice millers. Earlier this week Nand Persaud & Company Chief Executive Officer Mohindra Pesaud told the Stabroek Business that the factory, which is located at Black Bush Polder is one of the recent forward-looking investments that have been undertaken by the company. The company’s recent investment, its CEO said was undertaken against the backdrop of what had been “a reasonable 2021” for the company.
During last year the company also commenced production at its Wellington Park, Corentyne of a Plastics Factory which has begun to produce water bottles, various types of containers, plastic spoons, cups, plates. He said that while there had been “supply chain challenges that had disrupted the production process at the factory these had been corrected but it has been corrected and the production process is now running smoothly.
Progress made in the company’s recent areas of investment, however, have not been matched in its substantive pursuits in the rice industry where, according to Persaud, the company is still seeking to secure payments for rice supplied
The company, meanwhile, continues to engage the government regarding long-outstanding payments due from Panama. Days ago the Stabroek Business was informed that the company’s General Manager General Manager of the Company was meeting with government in an effort to realize of the settlement of the amounts owed. Stabroek Business understands that the company had put to the government a proposal through which the outstanding payment could be settled though no details were disclosed as to whether or not government was prepared to agree to the proposal.
Turning to the current situation the company’s CEO told this newspaper that, for the last crop, shortfalls had meant that it had only been able to acquire around 60% of the peddy that it usually purchases per crop. This, he said, resulted in the company being fuifill all of its markets. With regard to the forthcoming crop, due to be harvested next month, he said that the company expected to secure aroung 89% of its regular purchases.
