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Both cost cutting & margin expansion are needed to make GuySuco profitable
Dear Editor,
There have been a number of opinions in the press expressing concerns over GuySuco. Some solutions were offered, some of which were insulting to those in the industry. One character even went so far as to offer the Minister of Agriculture a $1.00 for the business. Let’s put aside the asinine and reckless suggestions and consider real solutions for the thousands of citizens that depend on the industry for a living.
The suggestion to focus primarily on cost reduction and improved efficiency is admirable, but will not provide the needed solution for the industry when done in isolation. It is as important and, in this case, more important for GuySuco to focus on top line margin expansion. The Government and the management of GuySuco must find niche markets where our premium product offering is valued and price increases can be had that result in margin expansion. Some examples of where this is possible are the beverage alcohol market, the organic sugar market and the confectionery & chocolate markets. Playing in the premium and ultra-premium segments of those markets do not require large volumes, but a focus on excellent quality and taste profile are essential.
Demerara sugar has a strong reputation for excellent taste and the use of GuySuco’s products and the Demerara Sugar brand name in world acclaimed premium rum and premium chocolate are testament to this fact. Currently, organic sugar that is very similar in appearance to the Enmore Crystal is being sold at approximately $2.00 US a lb. (retail). A very attractive price point for anyone seeking profitability in the sugar industry. Crop expansion to support entry into the organic sugar market should be seriously considered.
CRG recommends that GuySuco with the aid of the Government and its marketing partners aggressively pursue the aforementioned markets and those with similar potential for margin expansion in order to achieve a profitable business in the near future.
Best regards,
Mr. Jamil Changlee
Chairman
The Cooperative Republicans of Guyana
(Both cost cutting & margin expansion are needed to make GuySuco profitable)
(Both cost cutting & margin)
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