Tag Archives: Guyana sugar production

Guyana’s Sugar Industry – GuySuCo in deep financial crisis

GuySuCo in deep financial crisis

 JANUARY 1, 2014 | KNEWS | – owes creditors $10.5B

“No turnaround unless industry fixes agri problems” – GAWU warns

Government, this year, will be scrambling to find solutions for the country’s sugar industry as production fell to an embarrassing 23-year low in 2013.  [President Donald Ramotar is pictured at right]

Production at the eight estates in Berbice and Demerara closed on December 21, the last day of grinding, at a dismal 186,807 tonnes. This was below the 190,000-tonne figure that had been targeted and which had been revised again and again from the original 260,000 tonnes at the beginning of the year. The situation has now left the Guyana Sugar Corporation (GuySuCo) owing banks and suppliers in excess of $10.5B, union officials confirmed yesterday.
Last month, the National Assembly approved a $4B bailout to help pay its 16,000-plus workers and meet other critical expenditure.

However, according to Seepaul Narine, General Secretary of the Guyana Agricultural and General Workers Union (GAWU), the largest sugar workers’ union, the $4B will not be enough.

Once the ‘sweet king’, earning the hog’s share of foreign exchange, sugar has slid to third, behind gold and rice.  gold and rice Continue reading

Sugar production in Guyana at its worst

Sugar production in Guyana at its worst

MAY 16, 2012 | BY  |

–    2012 records lowest first crop figure for over 20 years

Almost halfway through the year, the Guyana Sugar Corporation (GuySuCo) is already counting its losses as its sugar estates are presently suffering from low yields and minimal sugar production across the country.

While GuySuCo and the Ministry of Agriculture were both optimistic at the start of 2012 that the industry would be able to meet this year’s production target of between 250,000 and 265,000 tonnes, the heavy rainfall has badly affected the first crop.   Continue reading

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