The Guyana Sugar Corporation is going after a wholesaler who is overpricing sugar to retailers and is planning to remove this person from its list of approved wholesalers.
This is according to a press release sent out yesterday by the company.
“The Guyana Sugar Corporation is extremely disturbed by reports from retailers who are alleging that they are being forced to pay an increase for bagged sugar by a wholesaler.
“The Corporation has noted reports in the media, more particularly on News Update, broadcast on MTV- Channel 65 last evening (November 11 2010), where vendors were lamenting the fact that from $6000 – $6500 they were forced to pay $8000-$8500 per bag of sugar,” GuySuCo said.
“GuySuCo wishes to categorically state that it has not increased its prices for sugar to its wholesalers, and as a result is alarmed at this new development,” said the release.
It said that as a result, it has launched an investigation into the issue. “Once identified and the allegations substantiated, the individual wholesaler will be struck off the list of GuySuCo’s authorized distributors,” the company said.
According to GuySuCo, it is unfortunate that such a situation could occur, since the Corporation, under the auspices of the Minister of Agriculture, held a meeting on November 1, 2010, at the LBI Community Centre Ground with all quota holders to discuss the strategic direction the Corporation will be making in 2011.
“The Corporation uses this opportunity to assure members of the public that it has an adequate supply of sugar for the local market and will not tolerate any instances of price gouging, particularly as the holiday season approaches,” the GuySuCo press release said.