Will there be an Increase in Sugar Prices?  

Minister Mai also responded to questions pertaining to discussions about an increase in the price of sugar. Mai says, the Belize Sugar Industries Limited has requested an increase, but they have not been forthcoming with the data to justify such request. So, it is yet to be seen if the price of sugar will be adjusted. Here is how he puts it.

 

Jose Abelardo Mai, Minister of Agriculture
“B.S.I. has requested to us to make adjustments to the price of sugar, upward adjustments. In 2014, when they requested that they make adjustments that is when it went to seventy-five cents. But it was not a proper structure to say wholesale will be this, retail will be this and we can see where people are making their profit. Only seventy-five cents and you see how you manage. I don’t know how the government then decided to put that structure in place without thinking what problems they would cause. So that structure is causing the problem today, because there is no leeway for anybody to make profits and the price remains suppressed. B.S.I. had asked us to adjust the price, we met with them. In 2014 when you requested that increase you gave us a justification. In 2014 the government said give me a justification. What is the cost and they said the cost is irrelevant. We are worried about the cost in Mexico and Guatemala. I say to them, we the Ministry cannot base the increase on sugar based on what is sold in Guatemala or Mexico. We have to base the cost of sugar on the cost of production. Cost have gone up across the board. They have not given us that information yet. But we cannot just raise the price just because of the price in Guatemala. I cannot be worried about the cost in Guatemala. I have to be worried about the cost in Belize and the people of Belize.”