Agreement reached on citrus price formula

In economic news the Citrus Growers Association and Belize Food Products limited have signed a six year agreement on fruit prices. The pact, which takes effect immediately, is based on a price formula similar to that used in the sugar industry. That is the price will vary depending on the revenues received from citrus concentrate sales, but those revenues will always be split with fifty five percent going to growers and forty five percent to processors in the case of oranges, while grapefruit will be split 50-50. The agreement, similar to that already made with the Citrus Company of Belize, was signed on behalf of the C.G.A. by Bridget Cullerton, Tony Chanona and Frank Redmond. Signing on behalf of B.F.P. were Denzil Jenkins, Lennox Neal and Albert Garret. In related news, citrus prices, which had reached their lowest point in over a decade, appear to be inching higher with B.F.P. estimating a final price of five dollars and thirty five cents per box for oranges, while C.C.B. estimates five dollars and twenty cents.