The Guyana Sugar Corpora-tion (Guysuco) is considering importing sugar for local consumption as it struggles to meet its foreign market quota and waivers have been granted to a number of Caricom countries for extra-regional importation of the product.
Minister of Foreign Trade and International Coopera-tion Dr Henry Jeffrey said Guyana approved the granting of the waivers, as it would be unable to supply the regional market. Guyana is trying to fulfil its European market quota, which has expanded on account of the reallocation of sugar quotas from Cariforum countries that have stopped exporting to Europe.
Caricom countries would normally have to pay the common external tariff (CETs) on sugar and rice imported into the region unless they are granted waivers by Caricom with the approval of the regional sugar and rice producing countries.
Guyana and Jamaica are the main suppliers of sugar to the Caribbean market.
Waivers have been granted to Suriname, Grenada, St Lucia and Trinidad and Tobago.
Meanwhile, Stabroek News understands that the management of Guysuco has been alerted to the fact that owing to flood conditions in Berbice, operations there have been suspended until there is a break in the current rainy weather.
This newspaper also understands that the Board of Directors of Guysuco has been advised that the possibility of importing sugar for the local market, while exporting to the European Union, might become a reality in the not too distant future.
Stabroek News sought a comment from Guysuco’s Chief Executive Nick Jackson but was directed to Director of Marketing Nisa Surujbally. This newspaper was unable to contact her over the past two days.
Jeffrey said while he was not aware of Guyana having to import sugar, it would not be new to Guyana since it had been done before to maintain the overseas market. He said Jamaica would also import to meet its export demands.
According to the sugar protocol, which is still in effect until September 2009, Guyana has a quota of 157,700 tonnes while the rest of the region, excluding the Dominican Republic, has a quota of 400,000 tonnes. The combined 69,000-tonne quota for Trinidad and Tobago and St Kitts, has been reassigned within the region.
In addition, through the recently concluded Economic Partnership Agreement (EPA) with Cariforum (Caricom and the Dominican Republic), the region has been granted an additional 60,000-tonne quota, of which 30,000 tonnes have been allocated to the DR.
There is some concern in the region that after all the lobbying and negotiating for additional quotas and markets, the sugar-producing countries in the region, particularly Guyana which would see its quota expanding significantly, might not be able to meet their quotas in the near future.
