CHIEF Executive Officer (CEO) of Guyana Sugar Corporation (GuySuCo), Mr. Paul Bhim has acknowledged that it is facing some challenges due to a considerable rise in the prices of fuel and fertiliser. Nevertheless, he said those will not affect the cost of sugar on the local market, as that has been fixed for the last three years.
Bhim also pointed out that the corporation cannot decide, on its own, to increase the price locally without permission from the government.
In addition, he said the price of sugar being exported to Europe, which is GuySuCo’s largest importer, will remain the same until the end of 2013. However, although it is possible that the prices of exports to Caribbean countries may rise, he could not say, at this time, if they will indeed be raised.
Bhim said, presently, exports are on track and GuySuCo is just awaiting vessels to come for the shipments, as there is now a sufficient supply of sugar available.
The CEO revealed, too, that labour costs have risen as a result of a recent job evaluation exercise undertaken by the Guyana Agricultural and General Workers Union (GAWU), that triggered significant hikes in the earnings of time-rated employees.
Bhim maintained, though, that despite the challenges the industry faces, the Corporation remains optimistic that it will achieve its annual production target of 236,000 tonnes.
So far, for the second crop, he disclosed that just over 100,000 tonnes have been produced.
The aim is for 166,000 tonnes and, once the current weather pattern persists, this should be reached by the time the crop finishes at the end of the second week in December, Bhim said.
He said individual sugar estates are performing well, adding that the Skeldon factory, in particular, is proving to be very progressive.
Meanwhile, GAWU General Secretary, Mr. Seepaul Narine advised that, presently, all is well between sugar workers and GuySuCo.