7 News Belize

Sugar, Yield Was Up, Money Was Down
posted (June 28, 2018)
The 2017/2018 cane season closed yesterday, and millers, BSI/ASR, are reporting that just over 1.274 million metric tons of sugar cane was milled during this crop.

That's approximately 16,000 metric tons less than last year's total of 1.29 million metric tons. Out of this 1.274 million metric tons of sugar cane milled, 142 thousand tons of sugar was produced, which is the same as last year, but from less cane.

But, despite the local sugar industry performing with high efficiency, the shifts in the global world market have resulted in a significant fall in the prices of sugar. This will result in lower export earnings.

BSI/ASR says that despite the challenges, the industry is demonstrating optimism, and the stakeholders are working with the Government of Belize to hopefully get market access to CARICOM.

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