Record amount of sugar with less cane; 2017/2018 sugar crop closes

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By BBN Staff: The 2017/2018 Sugar crop, ended with the month of June, and American Sugar Refineries/Belize Sugar Industries (ASR/BSI) is reporting that the mill grounded a record amount of sugar, despite havig less can that it did last crop.

 ASR/BSI reported that it produced some 144,086 metric tonnes of sugar, breaking the 2015 record by 2000 metrick tonnes, and outdoing last year’s performance by 11,000 metric tonne, despite grinding around 23,000 tonnes less than they did last year.

 ASR/BSI reported that it produced some 144,086 metric tonnes of sugar, breaking the 2015 record by 2000 metrick tonnes, and outdoing last year’s performance by 11,000 metric tonne, despite grinding around 23,000 tonnes less than they did last year.

 The company explained that it managed to produce more sugar because of the high quality of the cane the farmers were bringing in, and that there was favorable weather conditions for the majority of the crop. The company maintained that it is still increasingly concerned by the low prices of sugar on the world market and the end to Belize’s preferential market access in the European Union, scheduled for October.

 Sugar, is Belize’s top income earning export, with the EU being the major importer of Belizean sugar. Data from the statistical institute of Belize, showed that Sugar accounted for 40 percent of Belize’s exports for the first five months of the year, accumulating some $95 million for the period January to May 2017.

 Decreasing prices and the loss of the preferential market could seriously affect revenues that the industry brings in, affecting the country’s overall GDP.

 

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