-industry production cost pegged at U$1.31 per pound
Already experiencing dismal sugar production, GuySuCo is facing further woes as its factory at the Albion Estate has recently been plagued with a number of issues that have seen boiler and crystallizer malfunctions, added to the poor quality of cane produced and now, overproduction of molasses.
And while government has been mum regarding the situation, industry insiders have revealed that this country has been making a US96 cents loss on every pound of sugar as it is being produced at a cost of US$1.31 when world market prices are currently at US35 cents.
“It just isn’t seeming to end. From poor quality ratoon which gives poor juice and syrup to added complications because the boiler isn’t working at peak due to not having the tube as yet… makes the whole imbibition process gone wrong and we are left with so much molasses,” a source close to the industry told the Sunday Stabroek yesterday.
