By Marvin Cato | HGP Nightly News |
Opposition Member of Parliament Vinceroy Jordan has sharply criticised the government’s continued financial support of the Guyana Sugar Corporation (GuySuCo), arguing that the more than $13.4 billion allocated to the entity in the 2026 National Budget will not result in meaningful improvement to the struggling industry.
Speaking with Nightly News, the APNU parliamentarian described the allocation as a continuation of what he called systemic failure, contending that long-standing management deficiencies remain unaddressed.
Jordan pointed out that GuySuCo received $13.3 billion in 2025 and now $13.4 billion in 2026, yet the industry continues to operate at a significant loss. He argued that without structural reform, additional funding would amount to “placing fresh wine in old wine skins.”
According to Jordan, GuySuCo’s cost of production averages US$1.31 per pound of sugar, while the product is sold on the world market for approximately US$0.17 per pound, resulting in a loss of US$1.14 on every pound sold. Translated into local figures, he said sugar is produced at roughly $275 per pound and sold for about $35 per pound, resulting in a $240 per-pound loss.
“This is simply not sustainable,” Jordan said, adding that the continued subsidisation of such losses represents ongoing waste of public funds.
The government has projected that 100,000 tonnes of sugar will be produced in 2026. However, Jordan expressed scepticism, noting that GuySuCo failed to meet its first- and second-crop targets last year. He believes the same pattern will repeat due to what he described as poor resource management, and warned that supplementary funding is likely to be requested later in the year despite the sizeable allocation.
While the government has cited 59,600 tonnes of sugar produced in 2025, claiming a 26.5 percent expansion, Jordan disputed this assertion. He argued that production targets for 2025 were revised downward twice, making claims of expansion misleading when measured against original projections.
Despite his criticism, Jordan acknowledged the importance of the sugar industry to a wide cross-section of Guyanese, particularly workers and communities historically dependent on sugar.
He urged the government to pursue right-sizing and restructuring of the industry to ensure value for money and long-term viability. Jordan also expressed hope that elements of reform contained in APNU’s manifesto—some of which he said the government has adopted—will be properly implemented.
“The industry matters,” Jordan said, “but pouring billions into a broken system without reform is not the answer.”
