B.S.I. Explains Likelihood of Importing Sugar from US

The prospect of importing sugar into Belize amid the scarcity of plantation white on the local market has been met with serious concern from the Belizean public.  But it is likely to become a reality, given the rampant smuggling of locally produced sugar into neighboring Guatemala and Mexico.  The announcement on Wednesday that B.S.I. is considering purchasing sugar from the United States to satisfy the growing demand for sugar on the local market took many by surprise.  Here’s B.S.I.’s Director of Finance, Shawn Chavarria.

Shawn Chavarria

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

“It really is an unfortunate situation, especially during the Christmas Season, to have received so many calls and reports that Belizean consumers could not get a hold particularly of white sugar when we produced more than enough for the domestic market.  We’ve been highlighting this for sometime now and, in fact, back in 2014 when we had made the proposal this was one of the risks that we highlighted to the then administration, that unless you address the low artificial price, you will continue to see these challenges of sugar being smuggled across the border.  And it’s taking place again because the neighboring countries, the sugar is being sold at much higher prices.  So unless that matter of the low artificial price is addressed we will continue to see these challenges and we hope that the government takes action, now that they’ve seen how severe the issue was this year because it will continue into next year.  We’ve highlighted it to them and I think they’ve also heard the report of Mexican shortages, so we hope that the government does act.  And the fact that we are going to import sugar and the price will be almost twice what it is selling for is an indication of how artificially low the price in Belize is.  So we are hopeful that the government does take action following the recent events.”