Posted: Wednesday, September 2, 2015. 12:08 pm CST.
Wednesday, September 2nd, 2015. Aaron Humes Reporting: Chairman of Citrus Products of Belize Limited, Douglas Singh, says he has contacted the Statistical Institute of Belize (SIB) concerning their information on sales of citrus concentrate and oranges,
down 49 and 53 percent respectively and fingered as a reason for the low rate of growth of the gross domestic product (GDP).
But Singh told 7 News during a meeting of the growers with the producer in the River Valley that the entire story is not being told.
According to Singh, a comparison month by month does not tell the entire story. Over a longer nine month period, he says, there is minimal change because of when they sell – it may be in their interest to stockpile some of the juice to sell when prices rise so farmers get more money.
Prices are now $1.30 per pound solid for concentrate, up twenty cents, and ensuring that CPBL will turn a profit. Production remains the same and the level of pound solids rose. Though prices are lower again expected revenue remains the same.
Reduced crude oil production at Spanish Lookout also drove down the GDP.
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