Government Considers Sugar Price Hike to Curb Smuggling

Government Considers Sugar Price Hike to Curb Smuggling

Another measure GOB believes will deter sugar smuggling is raising the commodity’s price. The government and factory both believe that Belize’s low sugar prices fuel the illicit practice as the cost of sugar in Mexico and Guatemala is much higher. But while the government supports an increase, the Ministry of Agriculture isn’t sure what will be an acceptable uptick to bring to the Cabinet. The ministry says it is working to strike a balance that will deter smugglers, benefit farmers, and not impact consumers. Today, Minister of Agriculture Jose Mai spoke about the difficult decision and how the government is trying to use analytics to come up with an adequate adjustment in the price of sugar. 

Mai added that he doesn’t believe an increase in the price of sugar will trickle down and affect the prices of locally manufactured goods like pastries and bread.

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