GuySuCo CoI: Main buyer calls for reduced production costs

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The meeting between the Commissioners and Tate and Lyle principals.
The meeting between the Commissioners and Tate and Lyle principals.

[www.inewsguyana.com] – The Guyana Sugar Company (GuySuCo) Commission of Inquiry (COI) recently met with Tate and Lyle Sugars – one of the main buyers of GuySuCo’s sugar –  in an effort to gather information on the future of the sector as the commission continues to meet with key stakeholders to forge the way ahead for the sugar industry.

The commission met with several principals of the company including, Vice President Duncan Tate, Allan Wood and Mac McLachlan.

According to a press statement, Tate and Lyle officials reflected on their long productive association with Guyana and stated their continued interest in buying Guyana sugar.

However, recent developments in Europe have made the sugar market very volatile and that the primary consideration is market price.

With the removal of preferential prices which ACP countries like Guyana enjoyed, the developing situation dictates that producers have to be more efficient and that demands disciplined management.

They noted that the price situation will become even more complex for Guyana when the cap on beet sugar production is deregulated.”

“They advised that the EU will be dominated by beet and cane sugar will have to compete with beet. Even in countries that are major producers of cane sugar, some factories have been closing…they emphasized that the cost of production must be brought down to be competitive. Tate and Lyle officials indicated their willingness to provide technical advice to GuySuCo,” the release stated.

3 COMMENTS

  1. I looked at picture on a close up and i laughed. A sleeping acting CE and many grey haired gentlemen with wrinkled faces that conveyed wisdom and brilliance on one side of the table very cogently mustered with little space between them and three men ample space and flustered look on the other side.
    I hasten to say three wise men because they are probably thinking what in the world did they pay us to come here for did they not read the many reports since the days of Collin Turner, shyt it can be this bad.I may be wrong on what the T& L guys may have said.
    Here is my take. LET me ask what is the cost to have T&L executive staff here and what is the cost of the COI?
    Any clown will tell you that what these gentlemen said i read many times in the printed media. Turnout, opportunity days and low production. Highly paid executive and little to answer for. Yet we brought the same company that was paid for the last five years for logistical support amounting to millions of US dollars and they made it clear that we can do that again but we will not venture into any investment.
    In other words T&L will advise us to the best of their ability and it ends there.
    Whose ideas it was to bring these guys? It surely cant be the COI?
    What amazed me most was the questions that were asked of T&L.
    Which century are we living in and watch who attempting to run our business.
    Hear the MAIN question,
    Given the world market price is $11 cent and the EU price is 15cents what are the probability of levelling off of prices in the next three years.
    God you have been good to us please dont let us down this time. Is this question coming form a high powered COI whose members collectively have 2000 years of experience in the sugar industry.
    The professor was there who wrote and knows much more than most was at the head of the table and he knows the answers he said it. Sugar is at the point of no return.

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