Sugar Shortage Concerns Addressed by Belize Sugar Industries

Sugar Shortage Concerns Addressed by Belize Sugar Industries

If you’ve been having a hard time finding sugar on the shelves, you’re not alone. But is there a shortage of sugar? The Belize Sugar Industries says not on their end. This morning BSI issued a press release stating that it received reports of an apparent sugar scarcity from the Ministry of Agriculture and the Sugar Industry Control Board (SICB). However, the mill says it has seen an increase in the sale of sugar when compared to last year. Sean Chavarria, Director of Finance at BSI, says that the mill believes the issue may be attributed to contraband making its way to neighboring countries. 

Sean Chavarria, Director of Finance, BSI/ASR: “The price of brown sugar has not increased for 22 years and it’s being sold even below the world market price for raw sugar. So  that would create a strong demand for a product because it makes it easier, or it’s more lucrative to make a profit, you can buy cheaper here and sell it at two times or three times the price across the border. So there needs to be a very close look at the price that it’s being sold for. Perhaps that’s been our recommendation for a few months now that the price of sugar needs to be adjusted. We’ve done the calculation that has been presented to the government. And if the price were to be adjusted to the level that we have proposed, the average increase on a family of four in Belize would be 36 cents per week. So it won’t be a significant impact on the average Belizean family. But it would help to address this issue with the price disparity between Belize and the regional markets. There could be also greater enforcement in the borders. We don’t know specifically which areas it’s being exported but perhaps greater vigilance as well might help to alleviate the situation.”

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