Sugar production declines after first crop – GuySuCo

As the challenges in the sugar industry continue, sugar production has decreased. In a review of the first crop for 2016, the Guyana Sugar Corporation (GuySuCo) announced on Wednesday that it experienced a shortfall of 29.3 per cent with actual production of 56,825 tonnes compared with a target of 80,270 tonnes.
According to the Corporation, an audit of the production, which usually takes place at the end of each crop, is currently underway. However, GuySuCo advised that it was not expected that the final figure would “vary significantly”.
The shortfall, according to GuySuCo, was attributed to the El Niño weather conditions which it said “severely dried out the canes” which led to constrained cane growth and reduced sugar content.
“The shortfall is bound to have significant financial implications for an already cash-strapped industry. It would, therefore, necessitate management considering further strategies for re-organisation of the industry with a view of making the Corporation a viable business entity,” it added.
Despite the challenges the management said that it was “sparing no effort in carving out creative and innovative pathways to lift the Corporation out of its current financial state”. It was further noted that management was currently strategising to retain current skills and competencies into proposed diversified projects.