GuySuCo counting losses as rainy season persists
Three weeks away from the end of the current crop, the Guyana Sugar Corporation (GuySuCo) has said it is unlikely to meet its target of 90,000 tonnes.
The corporation’s Chief Executive Officer (acting) Sasenarine Singh explained that the production target has been severely affected by the current rainy season.
“Even if there is an improvement in weather it will be difficult for GuySuCo to surpass 90,000 tonnes in 2020,” he told reporters on Monday.
Singh did not give a projection for the shortfall but said GuySuCo continues to work towards the target; one that remained a possibility up until the end of September 2020.
“The rain blew away that opportunity with three weeks left until the end of the crop. It is challenging but we will work towards it,” the CEO added.
He said GuySuCo was particularly hit hard at its estates in the Berbice sugar belt on which the corporation relies heavily. Ongoing tillage operation has also been affected, delaying the progress of commencing sugar production for the next crop.
An assessment of the losses across three grinding estates shows that the sugar corporation stands to lose $354 million.
GuySuCo hopes to be able to produce 95,000 tonnes of sugar in 2021 but Singh said under the current circumstances the Corporation is “in for trouble.”