Last Updated on Monday, 2 February 2026, 22:41 by Writer
The cash-strapped and low-producing state-owned Guyana Sugar Corporation (GuySuCo) is producing sugar at 154% more than the selling price, A Partnership for National Unity’s (APNU) point-man on agriculture, Vinceroy Jordan told the National Assembly on Monday.
In his contribution the debate on the GY$1.558 trillion national budget, he said GuySuCo was producing sugar at an average cost of US$1.31 per pound while it is being sold at US $0.17 per pound.
He said that was resulting in a loss of US$1.14 on every pound of sugar that the corporation sells on the international market. “Growth is measured on an already failed performance,” he remarked. “We in the APNU coalition concluded that money is not the problem, sir, but rather it is this government and its unwillingness to embrace the change and produce a proper plan for the sugar industry,” he also said.
Converting those numbers to Guyana dollars, Mr Jordan said GuySuCo was spending GY$275 to produce a pound of sugar while it was being sold at GY$35 a pound. “We therefore incur a loss, Mr. Speaker, of US $240 on every pound of sugar that we produce at GuySuCo,” he said.
The 2026 National Budget states that the average price of sugar fell by 17.1 percent to US$0.37 per kilogramme in 2025, and the price is expected to drop by a further 0.5 percent this year.
Despite that, the government plans to spend $13.4 billion this year on the sugar sector on top of the GY$13.3 billion spent last year on mechanisation and other activities.
The sugar growing subsector is estimated to have expanded by 26.5 percent in 2025, with production of 59,600 tonnes recorded by the GuySuCo.
The sugar subsector is projected to expand by 67.9 percent, with a target of 100,041 tonnes of sugar expected to be produced, according to finance minister Dr Ashni Singh in his 2026 budget speech delivered last week Monday.
He said that sugar production in 2025 was hampered by heavy rainfall that affected harvesting and field operations. This was compounded by labour shortages, low employee turnout, and challenges with factory machinery at some estates.
GuySuCo currently employs more than 8,000 workers.
