Gov’t to counter unfair hike in sugar price via Marketing Corporation

Bagged sugar being produced at the Uitvulgt facility (Photo: GuySuCo)

That sugar will be distributed to meet the demand for the commodity.

“What we will do is ensure the Guyana Marketing Corporation secures a lot of that so they can help in the distribution so there is no price gouging,” the President said.

Price gouging occurs when a seller increases the price of goods or services to a level much higher than is usually paid or that is considered reasonable.

Many people have already turned to social media to express their dissatisfaction at being unable to purchase the packaged product.

After much concern, GuySuCo’s Chief Executive Officer (CEO) Sasenarine Singh recently admitted that there is a shortage of packaged sugar in the country but said that the issue should be resolved in about two weeks time.

In addition to challenges with the weather, Singh also alleged that some of Guyana’s sugar has been smuggled abroad.

President Ali said he was not aware of such reports but did not rule out the possibility of that happening since supply shortages are hitting countries everywhere.

As such, Ali said he will task the local security forces with investigating the issue.