Guyana sugar company meets target for 1st time in a decade

IndustriesAssociated Press

The Caribbean trade bloc's largest sugarcane producing company says it has met its first annual target in a decade.

The Guyana Sugar Corporation said Wednesday that its eight estates produced 216,000 metric tons (238,100 tons) of raw sugarcane this year. It had produced 187,000 metric tons (206,100 tons) last year, the worst output in 23 years.

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Officials credited good weather conditions for the jump in production.

Managing Director Raj Singh said the corporation is still battling high production costs and falling international sugar prices. The corporation exports the bulk of its production to Europe.