Golden Grove ships first batch of sugar
Seprod Limited has shipped off the first container loads of sugar weighing in at 125 tonnes to Barbados, produced by its Golden Grove subsidiary.
It is Golden Grove's first shipment as a marketing agent.
"This is a fulfilment of a promise made in 2015 to all stakeholders, and we will intensify our efforts to drive the value-added agriculture products towards national development," said Seprod CEO Richard Pandohie.
"This was achieved by targeted investments in making Golden Grove Sugar drier, cleaner, and purer than any other packaged sugar on the CARICOM market," Pandohie said.
Having invested $3 billion over the past five years in the factory and farm operations of the Golden Grove Sugar Company, and making big losses on the investment, Seprod lobbied hard for marketing-agency status to take control of the markets for its own sugar. It previously had to pool its supplies for sale by a third party.
The Golden Grove Sugar factory has since been retooled with the upgrade of its centrifuges and drying system. Golden Grove is now focused on manufacturing sugar, while the farm operations have been outsourced to Sankar Limited.
Pandohie says this shipment of sugar is the first of many as Golden Grove will be honouring several firm commitments made especially to CARICOM markets.
"As promised, we are going aggressively after those markets that are available to us. We feel it is important that we match a high-quality product with high returns to justify our investment and faith in the sugar industry," he said.