In 1976, the government of Guyana nationalised and merged the sugar estates operated by Booker Sugar Estates Limited and Jessels Holdings to form the Guyana Sugar Corporation Inc., also known as GuySuCo. The main business of GuySuCo currently, is the cultivation of sugar cane and the production of sugar. Sugar accounts for approximately 4% of the Gross Domestic Product (GDP) and 18% of agricultural production. GuySuCo places much importance in establishing world-class standards in agricultural practices, sugar factory efficiencies, environmental protection and the productive use of human resources in order to sustain profitability in any foreseeable marketing environment and ensure that the sugar industry can continue to make a full contribution to the economic, technological and social advancement of Guyana. For 40 years this commitment has stood the test of time and our team has collaborated to produce one of the world's finest raw sugars. Our golden brown Demerara sugar is enjoyed around the world and our export markets span the European Union, the United States of America, and the Caricom countries which include: Trinidad, Suriname, St. Lucia, Grenada, Antigua, Dominica, Barbados, St. Vincent and Jamaica.
Current Business Focus
GuySuCo is the home of the world renowned Genuine Demerara Sugar. It is a dynamic industry continuing to grow and diversify. Our main business is the cultivation of sugarcane, production and marketing of sugar and molasses, while co- generation and value added products are among other key aspects of our business.
Currently there are seven estates where our genuine golden brown Demerara sugar is produced. We distribute our sugar and its by-product molasses to a wide range of export customers, local retailers, manufacturers and food services.
Our products include:
Genuine Demerara Sugar in Bulk Form
The majority of our sugar is exported to the Europe and we have a smaller North American Manket We also ship bulk sugars to Trinidad under the Common External Tariff Agreement. All sugars exported to the European Community and Trinidad is in bulk form and shipped CIF. Sales to the United States are on a FOB basis.
Genuine Demerara Sugar in 50kg Bags
Our sugar also comes in the form of 50kg bags for easy handling. Our bagged sugars are shipped to our neighbouring Caricom countries: Suriname, St. Lucia, Grenada, Antigua, Dominica, Barbados, St. Vincent and Jamaica under the Common External Tariff Agreement and is also distributed within our domestic markets. Bagged sugar is shipped in break bulk and/or in containers CIF or FOB within the Caricom market and is distributed directly at wholesale prices from our factories within the local market.
Most of our molasses is sold to local rum distilleries and the remainder is distributed among the islands of Barbados, Antigua, St Lucia and St. Vincent. Our molasses is sold in bulk form CIF to our customers.
Future Business Focus
The Guyana Sugar Corporation Inc. (GuySuCo) is currently undergoing a dynamic transition process; the key objective is to create a resilient and sustainable business.
What resilience means in the GuySuCo context
Organizational resilience is the ability of an organization to anticipate, prepare for, respond and adapt to incremental change and sudden disruptions in order to survive and prosper. GuySuCo is currently developing a business strategy that will ensure business resilience by increasing the ability of the Corporation to quickly adapt to disruptions while maintaining continuous business operations and safeguarding its employees, customers, assets and overall reputation. Hence the Corporation is focusing on increasing efficiencies and deriving profits from the current core business, sugar.
Another important exercise is that the Corporation is renewing its focus and revising its goals by developing a diversification programme. The New GuySuCo would be a combination of sugar and a diversification programme. Feasibility studies are currently being done in fruit crops, rice, aquaculture, dairy farming and livestock.
GuySuCo is such a dynamic entity and player in communities and the society that it is important that a resilient culture and resilient leadership be further developed within the Corporation – from the sugar cultivations all the way to the Board of Directors. The diversification programme also enables the Corporation to work on more than one-time cycle- the short term which is sugar production and the long-term, other ventures
The Guyana Sugar Corporation is the largest employer in Guyana and the Caribbean. It has in its employ approximately seventeen thousand persons, and continually strives for excellence through the empowerment of its employees.
Areas of employment include; Agriculture, Engineering, Finance, Information Technology, and Human Resource Management.