Citrus industry moves forward as new company hopes to make Belize major player
Posted: Wednesday, December 21, 2016. 4:29 p.m. CST.
By BBN Staff: The CEO of the Citrus Growers Association (CGA) of Belize, Henry Anderson, held a press conference today at Biltmore Plaza in Belize City.
According to the CGA, it wants to plant more crops, almost half million to be exact to compete with Brazil and Florida.
The CGA claimed that with the decline in Florida’s and Brazil’s citrus production compounded with the 35 percent protection of CARICOM tariffs, Belize can emerge as a more competitive citrus producer.
With that goal, the CGA wants to plant the seeds of these trees through a new company outside of Independence known as the Plant World
Nursery Ltd. However, for this to happen it will need an estimated $6 million in funding.
Already it has gotten funding through Atlantic bank to construct the facility for the Plant World Nursery which the CGA says it will maintain a 60 percent control of. However, the remaining shares will be sold for $5 each at a minimum of 100 shares per shareholder to a total of $6 million.
According to the Director of the Plant World Nursery, Thomas Tate, those shares will become available at the end of January 27 and will have a yearly return of 6 percent.
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