A.S.R./B.S.I. Launches AgGrowPro

This afternoon in Orange Walk, executives of Belize Sugar Industries Limited, along with Prime Minister John Briceño, officially introduced a new service aimed at assisting farmers, as well as the miller, to maximize on the output and quality of their sugar product.  It is the latest initiative to be introduced by B.S.I. in an effort to improve the efficiency and standards of the agricultural processes employed by stakeholders in the sugar industry.  Here’s more from B.S.I.’s Director of Finance Shawn Chavarria.

Shawn Chavarria

Shawn Chavarria, Director of Finance, B.S.I.

“This is truly a momentous day for the company and we are grateful for the opportunity to highlight how much we can achieve if we work together.  You might be asking yourself, what is AgGrowPro and what makes it so special?  Well, the primary goal is to combine various farm services to cane farmers in one package.  It merges proper agro-credit through provision of replanting and maintenance services with the technical expertise to ensure that the farmer gets the right service.  Rather than being provided with cash, BSI will undertake all the farm services for the farmer in a one-stop shop.  If the farmer would like to replant his or her field, the program will offer to prepare the field to provide the cane seed, to plant the cane, to provide post planting services and maintenance.  The farmer will then repay the loan over four years with a one-year grace period.  There is a finance cost included in rates which is leveraged against the company‘s own cost of borrowing, which we believe, combined with the rates offered for the full service package, farmers will find AgGrowPro very attractive.  Our field personnel will provide technical advice on preparation, planting and fertilizer requirements.  We will offer new cane varieties to make the cane farms more climate resilient.  We will also prepare the fields to allow for mechanized harvesting if the farmers so wish.  You might be asking yourself as well, why is BSI doing this?  The simple answer is, we need more cane.  Sugar cane yields in the north are one of the lowest in the world and we have seen a drop in cane supply.  In addition, with the market changes in the EU, it is critical that both field and factory and lower cost of production.  BSI has always believed that for the mill and farmers to get greater value from the business, we need to increase the value from the products produced and to lower costs.”