Panama's IMA to buy 335,000 quintals of rice for distribution

Panama's Agricultural Marketing Institute (IMA) will purchase over 335,000 quintals of national rice using an additional credit of more than $22 million approved by the National Assembly's Budget Commission. The funds, sourced from IMA's 2025 fiscal surplus, will be used to distribute rice through the institute's network of stores, agro-distributors, and fairs across the country.

This initiative aims to address a recent surge in demand for rice within IMA's programs. Monthly consumption has climbed from 100,000 to 140,000 quintals, attributed to the opening of new IMA stores in the provinces of Coclé and Panama. The newly acquired rice is expected to cover demand through early November.

The IMA clarified that the funds are designated exclusively for purchasing domestically produced rice and will not be used for imports. The institute had initially requested around $37 million to procure 550,000 quintals of rice and other national products. However, the approved credit limits the purchase to rice, with plans to seek additional funds later for other products.

Subdirector of IMA, Walter Rodríguez, explained that the rice will be bought from mills already processed, packaged, and ready for distribution. The purchase price is estimated between $64 and $66 per quintal. The distribution will extend to rural communities lacking permanent stores, utilizing mobile fairs and over 70 weekly mule transports.