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GuySuCo’s viability depends on quantity and quality of cane
Dear Editor,
Minister of Finance, Winston Jordan, at his recent press conference signalled that GuySuCo’s performance in 2018 will be worse than 2017. In essence, the Minister has alerted the nation very early that it should not be surprised at end of 2018 when GuySuCo delivers possibly the lowest sugar production since Guyana’s independence in 1966.
Poor performances in 2016, 2017 and 2018 to date are a direct result of the policy direction from the Hanoman leadership of GuySuCo.
The net result is embarrassment to Government through the mass termination of workers and the low economic growth rate in 2017. Every sugarcane industry professional knows that viability of the sugarcane business rests on its ability to grow lots of sugar cane with very high sugar content at a minimal cost.
This means that tonnes of cane grown and harvested per area of land and percent sugar in cane plant are core subject matters that must engage management at every given moment. From performance figures over the last 2 ½ years, it is evident that GuySuCo’s past leadership squandered $32B of taxpayers’ finances.
It “managed” to drive cane yields and sugar content in the opposite direction striking record low levels. This grouping took cane production from 2,815,365t in 2015, to 2,366,798t in 2016, then to 1,859,037t in 2017.
That is a reduction by 956,328t cane or 34% from 2015 to 2017. Sugar content in cane also plummeted from 10.19% in 2015 to 9.80% in 2016 then to, 9.46% in 2017. That is, a 7.2% reduction from 2015 to 2017. The reduction in cane quantity and sugar content alone from 2015 levels account for approximately 68,855t sugar not arriving at factories.
Isn’t this significant to engage someone’s attention? As a toiling taxpayer, I trust that the new board and management of GuySuCo focuses on strategies to improve cane yields and sugar content in cane. The industry’s viability rests on reversal of current trends. Now departed leadership refused, from all appearances, to address this problem from June 2015 to date maybe because of their personal conviction that Guyana must exit the sugar business.
This entire grouping must be exiled from the industry and allow for fresh and innovative minds.
Sookram Persaud
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