Minister of Agriculture Robert Persaud says that the price of GuySuCo sugar sold to Trinidad and Tobago has been fairly consistent over the last three years.
Persaud told the National Assembly that three categories of sugar are sold to Trinidad these include the regular bag, Demerara Gold and Demerara Brown.
He said that over the past three years the regular bag has been sold for US$360 – US$400 in 2006, US$400 – US$420 last year and US$$460 this year. For the Demerara Gold the price for the first two years has been constant at US$500 – US$510 per bag, while it went up to US$525 this year. The Demerara Brown has been priced at US$400 – US$450 for the first two years while it increased to US$480 this year.
He added that while the European market was the most lucrative where sugar was sold at US$695 per metric tonne, the country sought to get the best possible prices at any market which at least covered the production cost.
The minister was answering questions asked by AFC MP Sheila Holder as to the price shown over the last three years and whether profit was being made on these sales.
