The report of the Commission of Inquiry (COI) into the operations of the Guyana Sugar Corporation (GuySuco) will be laid in the National Assembly next week for consideration by the Economic Services Committee. This was today disclosed by Agriculture Minister Noel Holder when he briefed the media at his end-of-year press conference.
“While the recommendations of the COI were with many options, it is government’s view that the future of sugar is so important to the fortunes of Guyana and the Guyanese people to warrant as much discussion and consideration as possible in our quest to chart a way forward for the industry,” Minister Holder reported.
The report has already been discussed at separate meetings of the Cabinet. Implementation of the approved recommendations will commence in 2016.
Production this evening stood at 231,000 tonnes surpassing the projected target of 227,443 tonnes.
Meanwhile sugar production for 2016 is projected at 242,287 tonnes a 5% increase over the 2015 production. Grinding operations for the first crop will commence at the end of January 2016.
Meanwhile, with regard to sugar sales, Holder reported that the world market prices impacted negatively on that. “This was very evident from sugar sold to the European market where the price received is very much related to the World Market Price. Sales of value added sugar increased significantly from 2014 levels and our presence was re-established in most of the CARICOM countries. Sales of our latest brand of package sugar “Enmore Crystals” which is aimed at the North American market commenced in 2015 in both the USA and Canada,” he explained.