How far does sugar loan go?

Posted: Friday, June 26, 2020. 1:02 pm CST.

By Aaron Humes: At just over BZ$2 million, farmers would get $370 each from the proposed Caribbean Development Bank (CDB) loan for enhancing sugarcane farmers’ resilience to natural hazard events, said Orange Walk South’s Jose Abelardo Mai, or a $1.53 per ton.

The loan can only go so far even to buy fertilizer for the fields, which Mai estimates costs $56 per ton.

He called it “a shame and disgrace,” stating it would cost $3.4 million to give one bag of fertilizer per acre, and accused the Government of “cheating” farmers as well as the ASR/BSI mill at Tower Hill compared to Santander Sugar in Cayo.

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