The Secretariat of Agriculture of the Dominican Republic has begun the National Program of Rice Pledge. It is already the third year that the Program receives aid from the Government with more than 400 million pesos from the National Budget.
According to the secretary of Agriculture, the spring harvest is evaluated as one of the best in last years. The producers and millers fixed base prices for rice at 1,600 pesos by fanega **.
The program is a mechanism of compensation created by the Government to help farmers. The pledge maintains the product in controlled fiscal warehouses. The cost is covered to a large extent by the Government. The product is released when the market allows it with the purpose of avoiding saturation and reduction of prices.
* 1 USD = 32.4577 DOP
** 1 fanega = 177 kilos
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