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Guyana may have to import sugar later this year – 20th Jun 2013

shot0006There is a strong possibility that Guyana may have to import sugar later this year. This assertion came from the main opposition party A Partnership For National Unity (APNU).

Equipped with this stats, APNU executive member, Anthony Vieira said there are confirmed reports of the last crop yielding less than 48,000 tonnes, the lowest in over two decades. He said this serves as a good gauge to determine that the industry’s future remains bleak.

With the second crop projected to grind only 148,000 tonnes, Vieira said this would not be enough to supply international markets and meet local demands.

At the beginning of this week, President Donald Ramotar admitted that sugar was in crisis and that there was an urgent need to revive the industry.

The main opposition party maintains that the chronic state of GUYSUCO’s financial condition  cannot be an annual bailout.

The party is also questioning the use of European Union financing, charging that the funds are not being channeled to restructure the industry.

The party pointed out that since the EU compensation began in 2006, Guyana received some 24.7 billion dollars.

The party also noted that since 2009, GUYSUCO has not submitted annual reports to the National Assembly as it should.

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