
With the sugar industry set to receive a $13.3B boost from the Government this year, it has set an ambitious production target for the industry, projecting triple digit growth in 2025.
“The sugar growing subsector is projected to turn around and record growth of 115.4 percent in 2025. A production target of approximately 101,000 metric tonnes is set for the year, as GuySuCo continues its mechanisation and conversion efforts and promotes value-added production,” the Finance Minister said during his Budget presentation on Friday.
The ambitious target comes a week after President Irfaan Ali warned that heads will roll if the Sugar Corporation continues to miss its target.
Although the Government was able to re-open the Rose Hall Estate, which recommenced operations in 2023, the Finance Minister announced that just over 47 tonnes of sugar was produced last year.
To meet its production target this year, the Guyana Sugar Corporation plans to convert an additional 3,000 hectares of land to further support mechanization, and to make other key investments to acquire additional field equipment, rehabilitate field infrastructure and construct over 17 kilometres of all-weather roads across the industry.
The sugar industry recorded a massive decline in production last year.
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