US announces this year’s sugar quota

The US Embassy in Belize today announced the annual sugar quota for Belize. Its down from last year, but the Embassy says thirty-eight other countries which enjoy the preferential prices under the quota system all got a slight reduction, except Mexico which has a fixed amount due to the North American Free Trade Agreement. No reason was given for the cutback. Belize’s quota for raw cane sugar from October 1999 to September 2000 is eleven thousand five hundred eighty-four metric tons. Last year our quota was eleven thousand nine hundred fourteen metric tons, a difference of three hundred thirty metric tons. Ambassador Carolyn Curiel says based on the prevailing US preferential price, this year’s quota is expected to earn Belize about four point seven million US dollars in foreign exchange. If Belize were to sell this sugar on the world market, it would only bring in about one point five million. According to the embassy, allocations to individual countries are based on the countries’ historical trade with the US and The NAFTA agreement between the US and Mexico.