We've been telling you all about the fusarium fungus that will have a major negative effect on cane production - but there is some good news for the industry tonight.
The Ministry of Foreign Trade today announced the UK's recent decision to maintain its current Autonomous Tariff Quota for raw cane sugar. A release says there will be no increase in access for suppliers who are not part of the Organization of African, Caribbean and Pacific States. What this does is, it preserves critical market access for Belize's sugar exports in 2025.
This means the UK will continue to allow 260,000 tonnes of raw cane sugar to enter its market at a 0% tariff rate, and Belize's sugar exports will retain duty-free, quota-free access under the CARIFORUM-UK Economic Partnership Agreement.
Sugar is Belize's leading export and creates around 12,000 direct jobs. The industry accounts for approximately 41% of the nation's foreign exchange earnings.
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