Introduction
For the next few columns I shall assess the position of Guyana’s sugar industry in light of the billions of dollars the EU has committed in assistance under its Second Multi-annual Sugar Programme 2011 to 2013 (24.9 million euros or $6.5 billion) and the proposed Budget 2012 subsidy of $4 billion for the coming year. A year ago I had examined The state of the Guyana sugar industry and its reform in the course of 21 consecutive Sunday columns (May 29-October 16, 2011).
Those articles addressed the following major topics in some detail: 1) the explosive expansion of the global sugar industry under an international trading regime dominated by inter-governmental trading arrangements.
This is crucial, given the export-oriented nature of Guyana’s sugar industry. 2) by way of comparison, the stagnation and decline of sugar production and exports in Guyana; 3) an appraisal of the key performance indicators for the local industry (production, productivity, profitability and financing); 4) the Sugar Modernization Project (particularly the