Price of Sugar to Increase Soon 

Belizeans may soon see higher sugar prices on store shelves as the government moves to support the long-time-struggling cane farmers.

“Yes, we are very aware that this may cause a burden on our local consumers. But at the same time, our cane farmers have been battling with higher prices, the changes in climate, and most recently, as we all know, the matter of the Fusarium wilt in sugarcane,” said Marco Osorio, chairman of the Sugar Industry Control Board.

 ”The government is convinced that there is a need and it’s due,” he added.

Osorio explained that the government’s decision to review sugar prices aims to provide farmers with some financial relief.

Earlier this year, leaders of Belize’s four sugarcane producers’ associations described a “critical and unprecedented crisis” in the sector. The associations recommended raising the local price of Molasses C by 1.5 times and Molasses B by 2 times, allocating 65% of any sugar price increase to a Cane Sustainability Fund, and increasing electricity tariffs for bagasse energy sold to BEL to support sustainability projects.

In the latest Cabinet meeting, the establishment of regulated prices for plantation white and brown sugar and the removal of price control for retail packaged sugar were discussed and are being “considered.

Exact figures are yet to be released.