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Dec 8, 2015

B.S.I. Announces Revised First Payment for Farmers

There is a bit of good news for caneros tonight as the first cane payment will increase to thirty-six dollars and sixty-five cents based on a revised first cane price estimate, which increased from forty-one dollars and fifty-six cents.  According to Belize Sugar Industries Limited, the increase fully reflects growth provided under the new Statutory Instrument giving it effect.  Despite the fact that it was less than what farmers expected, the benefit is spread over more tons of cane as a result of an increase in crop expected this year.  Nonetheless, the increase will benefit the industry significantly and marks the first time in almost a decade and a half since the industry has seen an adjustment in prices notwithstanding significant market changes over the years.  The proposed increase in local sugar price was justified on the basis that the increased price will: Recognize increased costs for cane growing, sugar manufacturing and transportation over the past fourteen years. Positively impact industry revenues and in particular result in an increase in the cane price paid to farmers. Have a negligible impact on consumers, which based on sales data, would result in an incremental increase on average for a family of four of around one dollar and fifty cents per week. Eliminate the incentive for illegal cross-border trade in sugar given the material price differential between Belize and our neighboring countries. Belize has for decades had the lowest retail price for local sugar compared to Central America and Caribbean countries. This results in the need to be tightly controlling and policing sugar sales in the local market to avoid supply shortages to local consumers.

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2 Responses for “B.S.I. Announces Revised First Payment for Farmers”

  1. Ricky Malthus says:

    I see bias in the above writer assessment of the facts of sugar pricing. First, the increased price to local consumers is not justified for reasons given but to pay for BSI/ASR playing with the market to collectively punish the farmers who reacted by getting Barrow’s GOB to increase prices. Second, to remedy this gross injustice and other injustices in this industry is to get Barrow to repeal this BSI/ASR monopoly where only they can buy. sell, and export sugar. I know there are those who hate to hear this but to have a true political democracy, there must be open competition in all markets. Belizeans, you have to wake up and smell the coffee. You continue to lose grip on ypor country, while the venal politicians get rich and the aliens take away your land and birthright.

  2. cane farmer says:

    I agree with you Ricky. The reason why prices are going down is because ASR is the one that shakes the global market. BSI has always been asking for more production, now that they have it, can they show how they can improve the grinding of cane. Just as how they ask farmers for more productivity, Farmers should be asking BSI to demonstrate more efficiency in grinding and in the business administration. Please investigate how come if fuel has reduced the freight has not reduce and if all the BSI executive stop travelling as they are or even paying more lawyers.

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