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Jan 13, 2014

B.S.I. C.E.O. explains agreement

Joey Montalvo

Late this evening, Belize Sugar Cane Farmers Association and the Belize Sugar Industry signed an agreement in principle on the payment of bagasse and agreed to start the crop on January twentieth. Following the signing, C.E.O. of B.S.I., Joey Montalvo, explained the agreement.

 

Joey Montalvo, C.E.O., B.S.I.

“Well I am particularly pleased that we signed today and I think we now must focus on the crop getting, getting the crop off the ground. We have a late start and we have a big crop to mill. We must also focus on the negotiations coming ahead as well, to finalize that. But also I want to say that this hasn’t really slowed ASR/BSI plans for expansion. We need to both the field and the mill, we need to focus on getting the economic pie bigger because there I great scope for expansion, there is great scope to increase productivity, both on the farming side and also on the milling side and there is great scope and potential the increase cane production to about two million tons, sugar production to about two hundred thousand to about two hundred and twenty thousand tons of sugar. If we are to stay in business we must look forward and both sides need to work together, This has been a learning experience think these things serve a meaningful purpose. And I think from here onwards we need to move forward and focus on the future. We have been stuck for at least two decades at the current level of cane production/sugar production so we need to move forward and that is where the focus ought to be for the future. So I am particularly pleased that we have reached this stage and that we can then move forward with the plans both in the fields and the belt. We didn’t discuss a quantum, we only signed an interim agreement which basically says that we are going to negotiate the quantum for bagasse and once that is determined there is all intentions to pay for that. It is basically moving form a position to no payment, to a position of that we’ll consider payment and then negotiate payment and during the process of negotiating we will determine the payment and then make the payment. We have signed up to have all this and also the determination for the quantum to be all concluded by the time the crop ends. The date for the end of crop that is going to be mutually agreed further down the road which may be some time in June, but we have agreed to try to concluded this by the time the crop comes to an end.”

 

We’ll have more on this story on Tuesday’s newscast. 

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