Sugar Prices and the Challenges Ahead
Over the past few days we have reported on the impending challenges that nations exporting sugar to the European Union may or will face as the EU cuts its imports this year. Since the announcement was made, stakeholders in the Belize sugar industry have made efforts to prepare for the price cut. In an interview with Marcos Osorio, Director of the Sugar Industry Research and Development Institute, SIRDI we asked if Belize is ready to face the challenges ahead.
Osorio stresses the need to improve yields to be able to cope with the drop in price but also points out that the cost of production needs to reduce.
In a Bloomberg article dated March 15, it states that the challenge in the upcoming price cut will be to remain competitive when compared to the EU farmers who are now boosting their productions.