— GuySuCo gets higher price for molasses from DDL
THE Guyana Sugar Corporation (GuySuCo) has secured an increase of US$30 per metric tonne for sugar from Trinidad and Tobago and has signed a one-year agreement with Demerara Distillers Limited (DDL) which offers a much higher price for molasses.
This was disclosed on Monday by GuySuCo’s Chief Executive Officer (CEO), Sasenarine Singh, during a visit to the Blairmont Sugar Estate. Singh told members of the media that the corporation is also looking to expand its market in the Caribbean.
“We are grateful for the partnership that DDL is bringing to GuySuCo to make sure that more value is being brought to our table; secondly, we were able to secure US$30 per metric tonne in our Trinidad market, our biggest market, “he said adding: “We have been able to expand our St. Vincent market; we have started negotiations with Grenada to restart reselling packaged sugar and bag sugar to the Grenada market.”
He explained that the agreements are all a part of GuySuCo’s strategic plan to produce approximately 97,420 metric tonnes of sugar by year-end and breathe new life into the country’s sugar industry.
“Our mantra going forward as an industry is very simple; we want to produce what we can sell for the most possible cash; we are not excited about selling raw bulk sugar in the market, it’s an afterthought. If it happens, it happens because we have no other alternative. Our primary market going forward will remain packaged valued-added sugar, Demerara Gold and the Enmore Crystals,” he said.
All consumers will receive quality products packaged under the highest international standard, the GuySuCo CEO assured.
“Our mission is to sell for more cash, we are quadrupling our valued-added sugar, both locally and at the international market, but also we want to produce sugar more efficiently,” he said, adding: “One of the things that we would have greenlighted as a team is to expand the packaging plant at Blairmont and at Enmore. GuySuCo will be spending about $600 million on these projects to ensure that we put more lines in.”
He further stated that the corporation will be looking to build an inventory so that, “when somebody in Trinidad calls and says we need so much tonnes of Demerara Gold, it must be there”. “We must build it at that point in time; it must be there ready and available to sell,” he said
As a part of the company’s new marketing initiative and strategic plan, he stated that GuySuCo has also been inviting persons desirous of becoming distributors of Guyana’s sugar to come on board and help sell the packaged sugar, both locally and to international markets.
The plan, he said will be based on three pillars to increase the stream of revenues and review the company’s value chain to carry out its mandate.
He noted that GuySuCo will be focussing on the first crop of 2021, which is expected in February and will produce some 42,609 metric tonnes of sugar.
“In our first crop which is starting around February 20, 2021 and will run until May 20, 2021, it will run for about 12 weeks. The first crop is expected to produce 42,609 metric tonnes, the second crop is expected to run until July and run through November,” he said.
During this time, the company will be looking to up its production level from the ground work to produce the best quality of sugar for the country’s local and international markets.
“We are going to improve our land preparation process, we are going to focus on ensuring the plant is fed at the right time; for years, GuySuCo has underfed our plants too late, that ends today…. our plants are going to get their fertilisers at the right time so they are going to produce the right quality of sugar at the right time so that they can be taken to the factory at the right time and produce the right amount of sugar,” he explained.
Additionally, Singh noted that GuySuCo will also be upping its game to provide greater efficiency in the transport of cane.
“The weakest link in this business is bringing sugar from the field to the factory; that is where we lose most of our money. The model basically says within 48 hours your sugar should be in the factory,” the CEO said.