B.S.I. Announces Near Record Cane Price
In other sugar related news, the Belize Sugar Industries Limited reported the second highest sugar cane price estimates since the year 2000. According to the company, the 2022/2023 cane crop second payment was made today at an average of twenty dollars and ten cents. The season’s first payment came in at forty-three dollars and sixty-three cents. Shawn Chavarria, the Director of Finance at B.S.I. further explained.
Shawn Chavarria, Director of Finance, B.S.I.
“Today we made a second payment to farmers here in the north. The second payment estimate is seventy dollars and twenty-two cents which as highlighted in our press release is the second highest since 2000. So it is two consecutive years of very good sugar prices, certainly much highest than last year. The cane price estimate of last year was just over sixty three dollars and now it is seventy. So, we are at this point close to the final payment for last year, which was just over seventy dollars as well. So, it is a good news item, something positive for the industry. We know that farmers have been traveling with high inputs and we hope that with the higher cane payments the farmers can now have some funds to put in fertilizer, herbicides in their fields, manage pest control.”