European Parliament committee on Agriculture announces 5-year extension on plans to lift sugar quotas – 29th Jan 2013
Guyana and the other sugar producing countries in the African Caribbean and Pacific grouping (ACP), will have five extra years to make sugar sweeter as the European Parliament committee on Agriculture announced a 5-year extension on its plans to lift the quotas on sugar imports from the grouping. This means, that Guyana and the other sugar producing Caribbean nations, will be able to supply the European union.
The European Parliament’s agriculture committee voted recently to extend the sugar quotas through September 2020.
Guyana and the rest of the grouping stand to lose millions of Euros when the Quotas are abolished and would have to seek innovative ways to benefit from the reduced exports to the EU.
High prices for the commodity will encourage ACP countries to ramp up production.
Guyana’s Modern sugar factory at Skeldon was supposed to be the answer to the difficulties faced by sugar, with a co-generation component where power from the factory would have been fed into the National Grid and an ethanol plant constructed to provide alternative energy, but Skeldon has been far from what was envisaged by the administration with several technical and structural issues dogging its smooth operations.