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Jul 15, 2019

Belize has 140+ Thousand Tons of Sugar that Needs a Market; Will it be CARICOM?

William Neal

Neal says it would be significant for Belize Sugar to get into the CARICOM market. B.S.I. alone is producing upwards of one hundred and fifty thousand tons of sugar and just a fraction of that is being consumed on the local market; the surplus can meet the needs of CARICOM.

 

William Neal, Communications & Government Affairs, Belize Sugar Industries Limited

“Traditionally, we do between three and five thousand metric tons. CARICOM uses around three hundred thousand metric tons of sugar and out of that maybe about sixty thousand they may require refined white sugar for some of the products. So, that leaves two hundred and fifty metric tons. In larger markets like Guatemala, etc… most of their sugar is consumed on a domestic basis, so what they sell the remaining sugar into the Caribbean is for peanuts because they are not going to do anything with it. For us, we produce, just BSI alone, one hundred and fifty-five thousand tons and Belize consumes fifteen metric tons. We have a hundred and forty metric tons that you have to sell on some market to bring monies into the country, so you see where our dilemma is. While a place like Guatemala or Honduras can dump their sugar into this market, we can’t do the same. We still have to look where it is profitable to sell that sugar. We sell some into the EU, some into the U.S and we sell some into Canada. And we hope, very soon, that we will sell some of our major direct-consumption sugars directly into CARICOM. Belize is the only sugar producer in CARICOM that produces plantation white sugar; that gives   us a competitive edge already.”


Viewers please note: This Internet newscast is a verbatim transcript of our evening television newscast. Where speakers use Kriol, we attempt to faithfully reproduce the quotes using a standard spelling system.

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