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Leader of Opposition supports latest investment in sugar industry

On Monday ASR/BSI held a ground-breaking event to demonstrate their commitment to meeting the challenges head on. The company is making an investment to double the factory’s production capacity of direct consumption sugar which attracts a higher price than raw sugar in the markets open to Belize. Opposition Leader John Briceno says the move should not only benefit the company but farmers and the country on a whole.

John Briceno, Opposition Leader

“An investment that I support and I’m happy that its being done because as you know come November we are going to lose the preferential markets that we had in Europe so the price of sugar is going to be sold at the world price, or most of our sugar is going to be sold at the world price so we need to find other markets or do other stuff. By doing the direct consumption sugar what we are doing is that we are adding value, we are not selling the raw sugar but we are processing it further so that we can sell that sugar at a higher price in CARICOM and I’ve been told yesterday that there is a lot of interest from Mexico and Guatemala that would like to buy that direct consumption sugar because we produce a really high quality sugar. So it’s a good thing for the industry, it’s good for the farmers, BSI and good for Belize.”