Guyana Sugar Corporation Inc. (GuySuCo) yesterday said that it has not increased its prices for sugar to its wholesalers, while expressing alarm at reports from retailers who are alleging that they had to pay an increase for bagged sugar by a wholesaler.
The corporation said in a press release that it has noted reports in the media, more particularly on News Update, broadcast on MTV- Channel 65 Thursday evening, where vendors were lamenting the fact that from $6,000 – $6,500, they were forced to pay $8,000-$8,500 per bag of sugar.
As a result, GuySuCo has launched an investigation into the issue and once the wholesaler is identified and the allegations substantiated, the individual will be struck off the list of the corporation’s authorized distributors.
The vendors were also quoted as pondering “if this is an effect of the ongoing strike action by sugar workers on the estates,” the release added.
GuySuCo said it was unfortunate that such a situation could occur since it held a meeting on November 1, 2010 at the LBI Community Center ground with all quota holders to discuss the strategic direction the corporation will be making in 2011.
In the meantime, it gave the assurance that it has an adequate supply of sugar for the local market and will not tolerate any instances of price gouging, particularly as the holiday season approaches.
