Posted: Wednesday, August 21, 2024. 4:12 pm CST.
By Aaron Humes: Final 2024 crop production figures from Belize Sugar Industries Limited (BSI) say that 1,027,462 tons of cane were delivered to the mill, from which 102,718 tons of sugars and 39,958 tons molasses were produced.
And farmers in the North are once again getting record prices for their work. BSI announced that the second cane payment reflects a record second cane price estimate of $75.20, some five dollars above last year’s record price.
The season started last December but suffered multiple interruptions: road blockages caused by the dispute with the Belize Sugar Cane Farmers Association (BSCFA), and then adverse weather conditions linked to the late crop start. Cane quality was poor overall which exacerbated milling and power plant difficulties. Had cane quality been optimal, BSI said, the payment would have been even higher.
BSI has informed cane farmers that in accordance with the Commercial Agreement, 91 percent of this price will be paid as second payment. The final payment will be made in November.
According to BSI Finance Director, Shawn Chavarria, “The final payment will be made in November and farmers can expect an increase over last year based on this estimate, but all things considered, this record reflects the very positive terms on which BSI purchases sugar cane. We hope it will be an incentive for farmers to invest in their cane land to increase productivity and improve cane quality for next year.”
Separately, BSI remains concerned about cane quality and productivity, cane supply and climate change challenges which threaten industry viability. Belize continues to lag the region in farm yield, trailing the likes of Santander Sugar Group in country and Guatemala and Mexico in the region – ironic considering the contraband issues with Belize sugar being preferred in those countries.
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The post 2024 Second cane payment is a record; BSI worries about future yields appeared first on Belize News and Opinion on www.breakingbelizenews.com.
Posted: Wednesday, August 21, 2024. 4:12 pm CST. By Aaron Humes: Final 2024 crop production figures from Belize Sugar Industries Limited (BSI) say that 1,027,462 tons
The post 2024 Second cane payment is a record; BSI worries about future yields appeared first on Belize News and Opinion on www.breakingbelizenews.com.
