Carballo Says No Agreement…NO Crop

The choices, according to Carballo, are rather straightforward.  In essence, the committee of management for B.S.C.F.A. can be instructed to move ahead with the finalization of the agreement which can be ratified as early as Monday.  The C.F.O. also reiterated that the crop cannot be opened without first having a commercial agreement in place.

Via Phone: Belizario Carballo, Chief Financial Officer, B.S.I.

Belizario Carballo

“In our view the options are very clear.  The farmers can choose to authorize their leaders to proceed as they had mandated them to proceed in the past.  We feel that the last meeting did exactly that, mandated them to proceed to finalize the agreement and to then proceed to set a date for the start of crop.  They can do so and on that basis we could perhaps be signing an agreement next Monday and starting the crop next week.  [An] alternative is very unclear as to what exactly will transpire but one thing is known is that in that scenario the start of crop would then be uncertain.  Certainly it is not the case that we can start the crop without an agreement.  We need an agreement to be able to start purchasing cane.  We cannot open up for business without having an agreement as to how that business will be conducted.  It is not in the interest of the farmers nor is it in the interest of the miller to start a crop without a commercial agreement.  This is a commercial venture that requires an agreement to be able to operate.  The other point is that besides the application for the injunction is that there has also been an application to grant permission for an application to be made for an order to be made by the court so that the SICB can mandate or that the court can mandate the SICB to set a start for the crop.  We certainly feel, based on legal advice, that that notion is unfounded, the premise of that application; but what should be clear is that what is before the court right now is just permission to apply for a judicial review.  It is not even the application.  If that permission to apply is granted then that would give way to an application to be filed and for the process to then start.”