Tag Archives: sugar on the world market

Guyana produces at US$800 per ton, sells for US$300

Guyana produces at US$800 per ton, sells for US$300

GuySuCo CEO, Dr. Raj Singh

GuySuCo CEO,
Dr. Raj Singh

April 3, 2015 | By KNews |  Low sugar price on the world market

The Guyana sugar industry is facing an even bleaker future with prices sliding to their lowest levels since February 2009. The dismally low prices come at a time when the country failed over the last three years to lock in a multi-year agreement with its biggest customer in Europe – Tate & Lyle – leaving the country at the mercy of the international markets.

This week, the price for a pound of sugar on the world market went down to US$0.12.
This simply means that should the prices on the world market remain on course – and there are not any immediate indications of significant movements upwards in the immediate future – Guyana would be selling sugar in the vicinity of a highly uncompetitive US$265 per ton.   Continue reading