Posted: Thursday, October 5, 2023. 4:55 am CST.
By Horace Palacio: Belize Sugar Industries Ltd. (BSI) has officially addressed concerns regarding the apparent scarcity of sugar in certain supermarkets across the nation. The company has been responding to queries about sugar shortages from the Ministry of Agriculture and its affiliated entities, including the Sugar Industry Control Board (SICB).
While sales figures for brown sugar have remained stable, BSI has reported a notable 21% surge in the sales of their Plantation White Sugar (PWS) compared to the previous year. Despite these increased sales, BSI maintains that it holds sufficient stock to meet the historical demands of the local market.
However, BSI has voiced concerns about the possible reasons behind this surge in domestic demand. The company speculates that the significant price differences between Belize and neighboring countries may be prompting cross-border sugar movements. To illustrate, the current price for similar white sugar in Mexico stands at 2.5 times that of Belize, while brown sugar is priced 2.0 times higher.
BSI emphasizes that if this price disparity remains unchecked, either through domestic price alterations or by enforcing stricter border controls, the sugar supply situation in Belize could further deteriorate.
Advertise with the mоѕt vіѕіtеd nеwѕ ѕіtе іn Belize ~ We offer fully customizable and flexible digital marketing packages. Your content is delivered instantly to thousands of users in Belize and abroad! Contact us at mаrkеtіng@brеаkіngbеlіzеnеwѕ.соm or call us at 501-601-0315.
© 2023, BreakingBelizeNews.com. Content is copyrighted and requires written permission for reprinting in online or print media. Theft of content without permission/payment is punishable by law.