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Belize Sugar Industries Limited announces temporary increase in price for white sugar

Posted: Tuesday, January 9, 2024. 3:19 pm CST.

By Aaron Humes: As projected at the end of 2023, Belize Sugar Industries Limited (BSI) has confirmed that effective Wednesday, there will be a temporary increase in the price of domestic white sugar for consumers.

The 50-pound bag of white sugar imported from the United States will cost $59.26 which works out to about $1.18 per pound or 43 cents more than the controlled price of 75 cents per pound retail.

A few weeks ago, Director of Finance Shawn Chavarria indicated that retailed white sugar could go as high as $1.50 per pound with retail markup – BSI would not add any markup of its own for wholesale importation.

BSI reiterates that the increased cost is due to “the market shortages created by unauthorized cross-border trade which necessitated the temporary importation of white sugar.”

A total of 250 metric tons was imported by license, and once this stock is depleted and replaced with Belizean-made white sugar, the price should go back to normal.

 

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