Cane farmers in northern Belize will receive a record final payment of BZ$90.95 per ton for their sugarcane for the 2024 crop, marking the second consecutive year of record payments. This payment is set to be made on Monday, November 4, 2024.
The increase in payment is due to several factors, including smart investments made by Belize Sugar Industries Limited (BSI), efforts to explore new markets—especially in CARICOM—and rising global sugar prices.
For the 2024 crop, a total of 1,027,462 long tons of cane was delivered to the mill, resulting in 102,718 long tons of sugar and 39,958 long tons of molasses. The sugar produced is sold in various markets, including the EU, the US, and within Belize itself.
Shawn Chavarria, the Finance Director at BSI, noted that although this payment is a record, it could have been even higher if the quality of the cane had improved and if there hadn’t been disruptions in the crop. He emphasized that this payment comes at a crucial time, especially given new challenges from crop diseases. Chavarria encouraged farmers to use this record payment to invest in measures that combat disease and pests, and to enhance both productivity and cane quality.
Recently, BSI launched the SmartGrow project, which uses Blockchain technology to support the sugarcane industry. Farmers are also urged to explore other initiatives like AgGrowPro, mechanical harvesting, and the Green Climate Fund’s BZ$50 million grant, which is being implemented through the Caribbean Community Climate Change Center. These projects aim to boost cane productivity and transform farming practices in the long run.
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