Though the country has enough bagged sugar, a shortage of packaged sugar has caused some sellers to substantially increase their prices but President Dr. Irfaan Ali says the government is seeking to counter this by distributing more sugar through the Guyana Marketing Corporation (GMC).
The Head of State, at the sidelines of an event on Tuesday, reminded reporters that the short supply of goods is a global issue.
The rising cost of fuel, fertilisers and shipping is among the reasons for the increased cost of producing goods. As such, consumers are left to pay higher prices.
Complicating those issues for the local sugar industry, the President explained, is the heavy rainfall that has prevented swathes of sugar-cane from being harvested and subsequently processed.
But on Tuesday, President Ali noted that more than 2,000 bags of sugar have now been processed recently at Guyana Sugar Corporation’s (GuySuCo) Uitvlugt estate on the West Coast of Demerara (WCD).
That sugar will be distributed to meet the demand for the commodity.
“What we will do is ensure the Guyana Marketing Corporation secures a lot of that so they can help in the distribution so there is no price gouging,” the President said.
Price gouging occurs when a seller increases the price of goods or services to a level much higher than is usually paid or that is considered reasonable.
Many people have already turned to social media to express their dissatisfaction at being unable to purchase the packaged product.
After much concern, GuySuCo’s Chief Executive Officer (CEO) Sasenarine Singh recently admitted that there is a shortage of packaged sugar in the country but said that the issue should be resolved in about two weeks time.
In addition to challenges with the weather, Singh also alleged that some of Guyana’s sugar has been smuggled abroad.
President Ali said he was not aware of such reports but did not rule out the possibility of that happening since supply shortages are hitting countries everywhere.
As such, Ali said he will task the local security forces with investigating the issue.