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Final cane price estimate very low; cane farmers to receive second payment from BSI-ASR

Posted: Tuesday, July 24, 2018. 9:40 p.m. CST.

By BBN Staff:  Today, the ASR Group issued a release informing cane farmers that on Wednesday, August 1, 2018, they will receive the second payment for the 2017-18 sugar cane crop.

ASR informed that the current estimated price is $45.47 per ton of cane delivered. Farmers received $36.02 per ton as their first payment and will receive between $3.81 to $6.34 for the second payment depending on the quality of cane delivered by their respective branch.

The average second payment being made to cane farmers is $5.36 per ton. Together with the first payment, this represents 91% of the final payment and is in accordance with ASR’s agreement with the Belize Sugar Cane Farmers Association.

ASR notes that the calculation for the second payment price varies and is based on the relative quality factors for the respective delivery groups.

In an exclusive interview with Breaking Belize News (BBN), PUP shadow Minister of Agriculture, Jose Mai lamented the extremely low prices that are being paid to cane farmers.

Mai claims that “cane farmers are unable to survive with a price of $45.47 per ton when their cost of production and delivery is between $46 to $55 per ton”.

According to Mai, farmers spend between $27 to $32 per ton on cutting, loading and transportation only. Another $19 to $22 per ton is spent on caring and growing the sugarcane.

Due to the low prices for bulk sugar in the European Union (EU) and the world market, BSI had to focus more on the production and export of direct consumption (DC) sugar.

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