fbpx
UNDP Belize, Belize Enterprise for Sustainable Technology and Ministry of Agriculture empower farmers in Succotz
May 14, 2024
 Classes suspended for schools in Corozal due to power outage
May 14, 2024

BSI raises concerns over domestic sugar shortage; Blames smuggling and price disparity

Posted: Tuesday, May 14, 2024. 3:40 pm CST.

By Horace Palacio: Belize Sugar Industries Limited (BSI) is addressing growing reports of domestic sugar shortages, despite increasing the amount of sugar supplied to the local market compared to the previous year. The company attributes the scarcity to illicit cross-border trade and the significant price disparity between Belize and neighboring countries.

In a statement released today, BSI emphasized that sugar intended for domestic consumption is exclusively for the Belize market. The company has reminded its direct customers of this policy and warned that those found facilitating sugar smuggling will face immediate cessation of supply.

BSI also highlighted that Belize’s population growth has been slower than anticipated, based on the recent 2024 Census by the Statistical Institute of Belize (SIB). This suggests that increased domestic consumption is not due to population growth but rather illicit exports.

To address the issue, BSI has urged the Government of Belize (GoB) to review and increase the price of domestic sugar. The company argues that the current low prices, combined with production shortages in neighboring countries like Mexico, create a strong incentive for smuggling. BSI pointed out that the last price adjustments for brown and white sugar were made 23 and 9 years ago, respectively.

If the GoB fails to address the price disparity, BSI believes stronger border controls are imperative to curb the illicit trade and ensure adequate sugar supply for the Belizean market. The company warns that without intervention, the sugar shortage will worsen over time.

 

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 501-612-0315.

 

© 2024, 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.

Comments

  • Galen University
  • Belmopan Aggregates
  • larry waight
  • Belmopan Aggregates
  • cahal pech village resort
  • Galen University
  • Belmopan Aggregates
  • Belmopan Aggregates