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Nov 27, 2010

Senator Godwin Hulse projects path to a successful 2011 cane season

The sustainability of the sugar industry, because of its mountain of debt, as high as a hundred and twenty-four million,  and the role of farmers as well as the functioning at an efficient pace of the sugar mill, were the primary discussions at today’s Senate meeting. Senator Hulse who has tilled the soil himself, explained how much millions of dollars of cane are on the ground and what it will take to transform one point two million tons of cane into what the industry needs to be a very sweet year for sugar in 2011.

godwin hulse

Godwin Hulse, Senator for Business

“The cane is out there we are told. One point two million tons of cane standing in the field with a sugar content of a minimum of ten to one. It could be better. 2009 it was better because we had cool weather in January and it was dry. That was one of the saving grace. The mill can process that cane. Six thousand tons an hour is possible and then some if the cane comes relatively clean and relatively fresh, the mill will hum like a bee. We can do that once we get up to running and hopefully we can this year. If we do that madam president, B.S.I. will pull in one hundred and twenty thousand tons of sugar and it will be sold on the European market, and at low rock bottom prices that are finally cut to rock bottom, we  will earn ninety-nine million eight hundred and forty thousand dollars from that sugar. Same sugar that is out there in the field. And when we earn that and take our thirty-five percent cut that will be thirty-four million nine hundred and forty-four thousand dollars and we will show you a profit again of some four million dollars cause our costs are fixed costs.  The harvesting committee called Sugar Cane Production Committee and that committee is going to manage the deliveries this year. The cane farmers have agreed to that. It will be done hopefully through the harvesting groups who will be told when to burn, when cut and when to deliver. Now a lot of farmers are not agreeing, they want to see how it will work. Madam President we don’t have time to see man. We were see the core sampler—that get licked out and unfortunately Mister Gutierrez lost his life. We don’t have time fi see. But we agree make we see this year. There will still be a bunch of farmers bringing what they got. We will allow them to go first through the lines and when they’re done, then those farmers who agree to be part of the harvesting groups and the quality control will come next. And instead of the core sampler that takes a small sample of cane, they will come in about two hundred and fifty tons which is a batch. That batch will be ground, the juice will be tested by our chemist and their chemist, it will be agreed what the sugar content is and that is what they are going to be paid for.”

The bailout aside, BSI is still heavily indebted and it is looking at Banco Atlantida from Honduras to provide financing to cover the ING and FirstCaribbean financial arrangements.

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