An overview of Guyana’s sugar industry: Perspectives on contraction and prospects

Guyana’s sugar industry is marked by significant development, importance, and political relevance. The Dutch developed and managed the sector, followed by the British and then the Government of Guyana, each with their style that either propelled or stagnated the industry. This stagnation occurred post-independence owing to changing world dynamics, internal mismanagement, and emigration of talent. The resulting fallout caused the industry (embodied as GuySuCo) to become unprofitable. To ensure the continued survival of the industry, albeit a shadow of its former self, the government instituted regular bailouts, a practice still used today. Being a financial liability, GuySuCo underwent a series of contraction measures in a bid to return the industry to profitability. However, the reversal of recent contraction measures presents challenges to the sector. Nevertheless, no clear path has been identified for profitisation; as such, alternative measures should be considered.