The impasse that had been developing over the past few weeks between the Belize Marketing Development Corporation, formerly known as the Marketing Board, and the rice producers has reached a truce even if that white flag will only fly for a year.
Today the Ministry of Commerce and the Belize Food Supply Company that represents the four largest rice producers in the country signed on to a Memorandum of Agreement. The agreement will have the Belize Food Supply Company sell rice to the BMDC for redistribution in the Belize market. This will be done through the issuance of a 12 month permit which will allow rice producers to supply rice to the BMDC for 70 cents a pound. But while in the past two years the BMDC was the sole authorized wholesaler of rice, the Memorandum will also recognize one other wholesaler whom the producers will also sell rice to, that company is MADISCO. The compromise comes at a time when the rice supplies at the BMDC have been running critically low. At bottom, it is a situation where the producers did not get the 72 cents they were originally asking for but they got 5 cents more than they were getting before and the BMDC has had to surrender its position as sole distributor.
While there are still some minor issues to be worked out with the BMDC the deal was signed between CEO in the Ministry of Commerce and Industry, Eberto Mai and Edward Reimer of the Belize Food Supply Company. There are still other issues that need to be addressed by the Memorandum, which will include the revision and possible repealment of the current Supplies and Control Act.
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