Newly appointed Chairman of the Guyana Sugar Corporation, Dr Clive Thomas believes that the US$200M Skeldon estate, inclusive of the US$110M factory is a special case that will need to be dealt with separately by the Commission of Inquiry (COI) into the sugar industry.
Stabroek News asked the economist his take on possibly moving toward decommissioning the Skeldon factory in the hopes of bringing down production costs which currently have GuySuCo producing sugar at US$0.40 per pound while sales are set at US$0.16 per pound. The average world market price is even lower than this. Skeldon’s cost of production is said to be significantly above US$0.40 per pound.
“You are pressing me hard on what we are going to do with Skeldon, but that will be a decision of the COI, but from my point of view personally and as chairman that is a outlier and has to be dealt with specially,” Dr Thomas told Stabroek News during a brief question and answer on
