Dear Editor,
The recent increase in crude oil prices has also resulted in stronger sugar prices. The world market deficit for sugar was recently reduced to just under an estimated 2 MMT and white sugar prices have recently jumped close to 2%. Plans were being made to pursue this option with favourable terms in the Caribbean market and an investment in white sugar production capabilities at GuySuCo. The pursuit of this strategic investment appears to still be positive over long term and the planned timing to bring production online during the early part of 2022 is well timed. Looking forward to seeing the ribbon cutting.
Sincerely,
Jamil Changlee
Chairman
The Cooperative Republicans of
Guyana
