The Guyana Sugar Corporation (GuySuCo) yesterday declared its preliminary results for 2021 and touched on several issues that affected its production and profitability.
In a release yesterday, GuySuCo reported a reduction in the annual financial losses to the Corporation. Despite, it said, the worst flooding the sugar belt has experienced in 40 years. Pre-audited production results were reported at 58,025 MT (metric tonne) in 2021 compared to 88,890 MT in 2020.
According to the release, at Albion, where 50% of the production was programmed to be made, the mortality rate for the standing canes planned to be harvested for the 1st Crop of 2022 is estimated at 80% due to the floods. On the Berbice Estates where more than 77% of the production occurs, the rainfall in 2021 was 72% more than the previous year. In addition, despite losing some 35% of the standing cane for the 2nd Crop of 2021 as a result of the flood, the corporation stated that it still managed to meet local market demand for 2021.
