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…but fails to address burning issuesFollowing a number of reports on the state of affairs at the Guyana Sugar Corporation (GuySuCo), the Corporation through its hired public relations expert, Kit Nascimento, has issued a statement attempting to clear the air.However, GuySuCo steered clear away from a number of burning issues including the decision to spend more US$30M to hire a Chinese contractor over an experienced Indian firm for the troubled Skeldon factory.GuySuCo also did not address the fact that more than five years later after the factory was handed over by the Chinese contractor, it is badly underperforming requiring more than double the cane needed at other, older factories to produce sugar.GuySuCo did not say how much it is producing a tonne of sugar for,Wholesale China Jerseys, nor how much it is making when it sells the sugar.It did not also address questions in a subsequent article on Friday why the contractor despite failing on the Skeldon factory was handed another contract in excess of US$40M to run new power lines along the coast and why no one has been held responsible for the troubles at US$200 Skeldon modernization project.Kaieteur News, as part of its responsibilities to inform Guyana, was asking a simple question- What is the average price of sugar that GuySuCo is producing for and what is it selling at.The nation needs to know. GuySuCo and its Board of Directors and Management did not have to waste monies to hire a public relations expert to tell the people of Guyana something as simple as this.Below is the full text of GuySuCo’s press statement issued by Nascimento yesterday.Kaieteur News,Cheap Jerseys From China, on 26th March, 2015, published a report on the sugar industry headlined, “Skeldon set for disastrous first crop after late start” which was replete with misinformation on the industry’s first crop production figures and with regard to the prices received by Guysuco for its sugar.On 27th March, 2015, Guysuco issued a substantial rebuttal providing the facts. Kaieteur News withheld publication of Guysuco’s response which pointed out that “the industry  has increased its yield to 4.1 Tons of Cane per Hectare (TCH) while, at the same time, maintaining its projected Tons of Cane per Tons of Sugar (TCTS) at 11.9 tons. On 3rd April, 2015, Kaieteur News publishes yet another sugar article with further inaccuracies headlined “Guyana produces at US$800 per ton, sells for US$300”,Wholesale NFL Jerseys, painting a misleading and unfair picture of the company’s marketing and trading arrangements for the price it sells its sugar. In its 26th March, 2015 report, Kaieteur News wrongly claimed that the company had “failed to enter into a three year agreement to lock in the high prices (of 2014) and instead opted for a one year contract” with Tate & Lyle, “leaving the country at the mercy of the international market”,  a completely false statement. In spite of Guysuco, in its 27th March,Cheap NFL Jerseys China, 2015,Cheap NFL Jerseys, Press Release, pointing out that a three year agreement” with Tate & Lyle, “was never on the table” Kaieteur News repeats this nonsense again in its 3rd April, 2015, article. Kaieteur News, referring to so-called “industry experts” claims that “Guysuco will only be able to rake in around US$325 per ton for its premium Demerara Gold from the Enmore packaging plant”. Kaieteur News is seemingly determined to ignore the facts and mislead its readers. While market prices for sugar on the open market are depressed, Guysuco is now marketing an increasing range of value added sugar products from which roughly forty percent (40%) and growing of its sugar income is derived and is sold at well above the price quoted in the Kaieteur News.Guysuco, for instance,Wholesale Jerseys, as well as its bulk sugar sales, sells value added products ranging from Demerara Brown, through Demerara Regale, Genuine Demerara to Demerara Gold, sold in a variety of packages and weights, all earning prices well above,Cheap Jerseys NFL, and, in some instances, over twice the US$325 per ton quoted by Kaieteur News.  Guysuco, of course, sells its sugar and its value added sugar products in a very competitive market and is not, therefore, in a position to disclose the actual price at which it sells its products.In our Press Release of 27th March, 2015, we noted and acknowledged that “with the prevailing world price for raw sugar, in order to be competitive the industry must change going forward” and that the industry’s Business Plan, shortly to be made public, addresses the cost of production and increasing harvesting efficiency. The Kaieteur News, however, carefully censored this from their article. The Kaieteur News is quick to demand respect. Guysuco demands the same particularly with regard to fair, balanced, accurate and truthful reporting.