|Type||Agricultural and Processing|
|Headquarters||La Bonne Intention (LBI Sugar Estate), Guyana|
|Revenue||$200 million +|
The Guyana Sugar Corporation, or GuySuCo, is a Guyanese sugar company owned by the government. It is the country's largest cultivator and producer of sugar, a historically important commodity in the country. They produce Demerara Sugar as well as honey and sweeteners for export around the world.
The company was formed in 1976, when the government of Guyana nationalised and merged the sugar estates operated by Booker Sugar Estates Limited, Tate and Lyle and Jessels Holdings to form the Guyana Sugar Corporation.
GuySuCo initially lacked needed experience and lacked the reserves of foreign capital required to maintain sugar plantations and processing mills during economically difficult periods. When production fell, GuySuCo became increasingly dependent on state support to pay the salaries of its 20,000 workers. During this time, the industry was hard-hit by labor unrest directed at the government of Guyana. A four-week strike in early 1988 and a seven-week strike in 1989 contributed to the low harvests. After disease wiped out much of the sugarcane crop in the early 1980s, farmers switched to a disease-resistant but less productive variety. Extreme weather in the form of both droughts and floods, especially in 1988, also led to smaller harvests.
Guyana exported about 85 percent of its annual sugar output, making sugar the largest source of foreign exchange. But the prospects for sugar exports grew less favorable during the 1980s. Rising production costs after nationalization, along with falling world sugar prices since the late 1970s, placed Guyana in an increasingly uncompetitive position. A 1989 Financial Times report estimated production costs in Guyana at almost US$400 per ton, roughly the same as world sugar prices at that time. By early 1991, world sugar prices had declined sharply to under US$200 per ton. Prices were expected to continue decreasing as China, Thailand, and India boosted sugar supplies to record high levels.
In the face of such keen international competition, Guyana grew increasingly dependent on its access to the subsidized markets of Europe and the United States. The bulk of sugar exports (about 160,000 tons per year in the late 1980s) went to the European Economic Community (EEC) under the Lomé Convention, a special quota arrangement. In 1987, the EEC price of sugar was about US$460 per ton, whereas the world price was only US$154 per ton. Guyana was allowed to sell a much smaller amount of sugar (about 18,000 tons per year in 1989, down from 102,000 tons in 1974) in the United States market at prices comparable to those in the EEC under another quota arrangement, the Caribbean Basin Initiative. Maintaining preferential access to the European market was a priority in Guyana; in 1988 and 1989, production levels were too low to satisfy the EEC quota, so Guyana imported sugar at low prices and reexported it to the lucrative European market. Even so, Guyana fell 35,000 tons short of filling the quota in 1989 and 13,000 tons short in 1990.
The government of Guyana restructured the sugar industry in the mid-1980s to restore its profitability. The area dedicated to sugar production was reduced from 50,000 hectares to under 40,000 hectares, and two of ten sugarcane-processing mills were closed. GuySuCo also diversified into production of dairy products, livestock, citrus, and other items. Profitability improved, but production levels and export earnings remained well below target. In mid-1990, the government took an important step toward long-term reform of the sugar industry when GuySuCo signed a management contract with the British firms Booker and Tate & Lyle, former owners of GuySuCo's assets. A study by the two companies reportedly estimated that US$20 million would be needed to rehabilitate Guyana's sugar industry.
In 2004 it was announced that the Guyana was moving to modernize its sugar industry to better handle competition from the world market. As part of a strategic plan to reduce costs and improve productivity, the GuySuCo and the China National Technology Import and Export Corporation signed contracts on June 22, 2004 in Beijing. As a result of the $110 million agreement which was partly funded by the World Bank, International Monetary Fund and the Exim Bank of China, a new factory was built, which included the Skeldon Sugar cogeneration plant, a distillery and a refinery to be constructed at a later stage in 2008. The agreement was also made in compliance with the World Bank targets and obligations to contribute to an overall reduction of global greenhouse gases and to introduce modern technologies to the sugar industry which would improve efficiency.In November 2007, sugar factory workers of GuySuCo trained in South Africa to become familiar with the new technology.
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The economy of Eswatini is fairly diversified. Agriculture, forestry and mining account for about 13 percent of Eswatini's GDP whereas manufacturing represent 37 percent of GDP. Services – with government services in the lead – constitute the other 50 percent of GDP.
The economy of Fiji is one of the most developed among the Pacific islands. Nevertheless, Fiji is a developing country endowed with forest, mineral and fish resources. The country has a large subsistence agriculture sector, which accounts for 18% of gross domestic product, although it employed some 70% of the workforce as of 2001. Sugar exports and the growing tourist industry are the major sources of foreign exchange. Sugar cane processing makes up one-third of industrial activity. Coconuts, ginger, and copra are also significant.
The economy of Guyana is the fastest growing in the world with a projected GDP growth of 26.2% in 2020. Guyana had a per capita gross domestic product of $8,300 in 2016 and an average GDP growth of 4.2% over the previous decade. Crude oil production started in 2019.
The economy of Saint Kitts and Nevis has traditionally depended on the growing and processing of sugar cane; decreasing world prices have hurt the industry in recent years. Tourism, export-oriented manufacturing, and offshore banking activity have assumed larger roles in Saint Kitts and Nevis. Most food is imported. The government has undertaken a program designed to revitalize the faltering sugar sector. It is also working to improve revenue collection in order to better fund social programs. In 1997, some leaders in Nevis were urging separation from Saint Kitts on the basis that Nevis was paying far more in taxes than it was receiving in government services, but the vote on cessation failed in August 1998. In late September 1998, Hurricane Georges caused approximately $445 million in damages and limited GDP growth for the year.
Agriculture in Thailand is highly competitive, diversified and specialized and its exports are very successful internationally. Rice is the country's most important crop, with some 60 percent of Thailand's 13 million farmers growing it on fully half of Thailand's cultivated land. Thailand is a major exporter in the world rice market. Rice exports in 2014 amounted to 1.3 percent of GDP. Agricultural production as a whole accounts for an estimated 9-10.5 percent of Thai GDP. Forty percent of the population work in agriculture-related jobs. The farmland they work was valued at US$2,945 per rai in 2013. Most Thai farmers own fewer than eight hectares of land.
Agriculture in Colombia refers to all agricultural activities, essential to food, feed, and fiber production, including all techniques for raising and processing livestock within the Republic of Colombia. Plant cultivation and livestock production have continuously abandoned subsistence agricultural practices in favour of technological farming resulting in cash crops which contribute to the economy of Colombia. The Colombian agricultural production has significant gaps in domestic and/or international human and animal sustenance needs.
Agriculture continued to be the mainstay of the economy of Haiti in the late 1980s; it employed approximately 66 percent of the labor force and accounted for about 35 percent of GDP and for 24 percent of exports in 1987. The role of agriculture in the economy has declined severely since the 1950s, when the sector employed 80 percent of the labor force, represented 50 percent of GDP, and contributed 90 percent of exports. Many factors have contributed to this decline. Some of the major ones included the continuing fragmentation of landholdings, low levels of agricultural technology, migration out of rural areas, insecure land tenure, a lack of capital investment, high commodity taxes, the low productivity of undernourished animals, plant diseases, and inadequate infrastructure. Neither the government nor the private sector invested much in rural ventures; in FY 1989 only 5 percent of the national budget went to the Ministry of Agriculture, Natural Resources, and Rural Development. As Haiti entered the 1990s, however, the main challenge to agriculture was not economic, but ecological. Extreme deforestation, soil erosion, droughts, flooding, and the ravages of other natural disasters had all led to a critical environmental situation.
Uganda's favorable soil conditions and climate have contributed to the country's agricultural success. Most areas of Uganda have usually received plenty of rain. In some years, small areas of the southeast and southwest have averaged more than 150 millimeters per month. In the north, there is often a short dry season in December and January. Temperatures vary only a few degrees above or below 20 °C but are moderated by differences in altitude.
Rice production in Guyana is an important foodstuff of domestic consumption and one of Guyana's major export commodities.
Agriculture in Guyana is dominated by sugar and rice production. Although once the chief industry, is has been overshadowed by mining.
The role of agriculture in the Bolivian economy in the late 1980s expanded as the collapse of the tin industry forced the country to diversify its productive and export base. Agricultural production as a share of GDP was approximately 23 percent in 1987, compared with 30 percent in 1960 and a low of just under 17 percent in 1979. The recession of the 1980s, along with unfavorable weather conditions, particularly droughts and floods, hampered output. Agriculture employed about 46 percent of the country's labor force in 1987. Most production, with the exception of coca, focused on the domestic market and self-sufficiency in food. Agricultural exports accounted for only about 15 percent of total exports in the late 1980s, depending on weather conditions and commodity prices for agricultural goods, hydrocarbons, and minerals.
Throughout its history, agriculture in Paraguay has been the mainstay of the economy. This trend has continued today and in the late 1980s the agricultural sector generally accounted for 48 percent of the nation's employment, 23 percent of GDP, and 98 percent of export earnings. The sector comprised a strong food and cash crop base, a large livestock subsector including cattle ranching and beef production, and a vibrant timber industry.
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The sugar industry subsumes the production, processing and marketing of sugars. Globally, most sugar is extracted from sugar cane and sugar beet.
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