The Guyana Sugar Corporation (GuySuCo) has reported that there has been a reduction in the annual financial losses to the Corporation despite unprecedented flooding in the sugar belt in 40 years.
According to a preliminary report on the company’s performance for the year 2021, pre-audited production results are reported at 58,025 MT in 2021 compared to 88,890 MT in 2020.
Moreover, it was noted that the Corporation has met all the needs of the local market for 2021 despite losing some 35% of the standing cane for the 2nd Crop of 2021 as a result of the flood.
Chief Executive Officer Sasenarine Singh, commenting in the report, noted that “despite the challenges from this unprecedented floods, the worst in 40 years on the sugar belt, Guysuco was able to soldier on and continue production soon after these devastating floods to beat the prediction in September 2021 that the industry will not pass the 50,000 MT mark. Guysuco pre-audit production as at December 23, 2021, is 58,025 MT.”
The CEO also stated that “the Agriculture Team was able to strategise and re-focus on rehabilitating the damaged fields. Some 4,300 Hectares of sugar canes were destroyed across the industry (this is land equivalent to over 52,000 houselots) and the industry was able to rehabilitate some 38% of those damaged cultivation in 2021.”
