DESPITE several challenges in the last year, the Guyana Sugar Corporation (GuySuCo) has surpassed its sugar production target of 216,000 tonnes, with production numbers standing at 216,147 tonnes. The first crop surpassed the 75,000 tonnes target, bringing in about 80,000 tonnes.
Despite the dismal sugar production in 2013, Guyana has been taking steps to turn around the industry and hopes to meet the 300,000 tonnes-target soon, with a projection that the sector will reach its 400,000-tonne goal by 2020.
Chief Executive Officer of GuySuCo, Raj Singh, has since expressed his thanks to workers at all levels of the Corporation for their efforts in making the target, the first year since 2005 that the Corporation was able to do so.
MUCH TO DO IN 2015
However, he cautioned that there is still much to be done to ensure that the Corporation returns to profitability. He expressed the view that the performance of the industry was encouraging and that most of the key performance indicators were achieved.
According to him, in the coming year, more focus and energy will be placed on increasing production, reducing the cost of production, enhancing the mechanisation programme, growing the market base, and diversifying its lines of business with new products, particularly value added products.
He added that the Corporation, during the current out-of-crop maintenance, will also focus on getting the factories ready for production by mid-February, 2015.
GuySuCo is also expected to analyze the effectiveness of the new initiatives that were introduced in 2014, including the use of briquettes for steam generation, bio-fertilisers and legume fallow among its many other new initiatives.
Additionally, a $6B allocation, in the 2014 National Budget for GuySuCo was approved by the National Assembly. The $6B is expected to cover expenditures that include mechanisation, through the conversion of 2,500 hectares of land to be suitable for mechanical operations, which will be done at a cost of $1.1B; tillage and replanting of 9,200 hectares, both efforts being consistent with improving cane production and yield, which will be done at a cost $1B; factory upgrading of all sugar estates, including Skeldon, at a cost of $2B; and works to field infrastructure to improve field to factory access and purchasing of equipment, excavators, bell loaders, tractors, etc. to account for the remainder of the allocation.
Despite its challenges, the industry, according to Government, remains relevant to the health of the national economy. In 2013, sugar exports accounted for 8.3 percent of total exports valued at US$112.2M, and the industry contributed 3.9 percent of the country’s GDP.