The Guyana Sugar Corpora-tion is assuring customers that the needs of the local market will be met and it also urged them to exercise prudent management of their stocks.
In a press release yesterday, GuySuCo said that arising from what it said was a misleading article in one of the daily newspapers that the corporation was contemplating the importation of sugar for the local market, it had noted “some anxiety amongst our customers about the security of supplies as well as an increased demand”. The release did not identify the newspaper but the March 16 Sunday Stabroek had carried a report which said that the corporation was considering importing in light of production challenges here and the expanded EU market that it was supplying. Corporation officials had not been available for comment for that story but several days later said that there were no plans to import for the local market.
Yesterday’s press release reiterated some of what has already been reported in the Stabroek News about the corporation’s ability to meet the needs of the Caribbean market. The corporation noted that in view of the wet weather conditions in the first quarter linked to La Nina and the uncertainty of the start of the May/June rains which could lead to the premature closure of the first crop, sales to all markets are being monitored to ensure adequate supplies here until the second crop starts in August.
The corporation noted that Guyana has a commitment to the Caricom Heads of Government Regional Sugar Policy to preserve quotas to the EU market. Under the recently concluded Economic Partnership Agreement between Cariforum and the EU the region secured an additional 30,000 tonnes and the right to retain Sugar Protocol shortfalls within Caricom. The release said this will mean that Guyana has to supply more sugar to the EU between now and when the Sugar Protocol comes to an end in September 2009.
“At the start of the year, GuySuCo, was well placed to meet these additional quotas as well as its intended Caricom and local markets. The weather has however affected production and forced a review of the marketing programme”, the corporation said.
As a result it said that certain Caricom buyers were informed of a reduction in supplies and the corporation also offered assistance to them in sourcing sugar from extra-regional sources.
“None of the affected markets was disrupted and sugar was supplied until the extra-regional imports arrived. Contract customers have not been affected”, the release added.
