With the sugar industry not being profitable anymore, Chief Executive Officer of GuySuCo, Errol Hanoman says it is best to have a smaller sugar industry with quite a significant diversification programme.”
Hanoman told Stabroek News in an interview on Tuesday that the diversification would be industrial as well as agricultural and questioned: “Why grow something [sugar] that is making thundering losses when we can grow something and make a profit?”
Major announcements by the government on the heavily indebted, cash-strapped sugar industry are expected before the end of the year. It is believed that the Rose Hall and Skeldon estates could face significant changes.