Sugar bill promises to strengthen industry

There were plenty of amendments today on Independence Hill; among them was the Sugar Industry Bill. Sugar Minister Valdemar Castillo says the changes to the bill will help to give future direction to farmers and the factory at Tower Hill.

Valdemar Castillo, Minister of Sugar Industry

“We have our preferential market with the European Union. It appears that these preferential markets will disappear by the year 2006. We also have our markets in the U.S. and other world markets, and there is an abundance of sugar in these markets. As a result, prices are low and it really affects us here at home with the payment of cane farmers. In Europe we also have a problem with the Euro exchange to the U.S. dollar. The Euro is very weak and that is why our price is also low. Now we need to do some re-structuring in the sugar industry. All is not lost because we have problems on the international scene. We need to do re-structuring on the sugar industry at home. I sincerely believe and the government believes that with proper restructuring we can survive where the sugar industry is concerned. We have the present sugar laws, but we need to bring these laws up to date. And this is what this sugar bill is doing, updating the sugar law and giving us the mandate to restructure.”

Castillo says that investment in a plant to produce energy from bagasse will help Belize’s sugar industry to survive by generating much needed income.