Sugar. It is still one of Belize's true cash crops but starting as early as January and continuing for the next two years, the price Belize gets for its sugar on European Market will be slashed by 39%. That will mean huge losses for cane farmers and millions less in hard currency earnings for the economy. What to do? Well there isn't much Belize can do since international lobbying efforts have so far failed. Today cane farmers along with three Cabinet ministers met in Orange Walk to chart a way forward. The meeting was opened by Minister of Foreign Trade Godfrey Smith who said that Belize is left with few choices and one-way forward.
Godfrey Smith, Minister of Foreign Trade
"The very survival of our sugar industry in Belize is at stake so we can't afford to underestimate these challenges. They are very serious challenges. It is important that we analyze this and find a common strategy forward because for the foreseeable future, as you all know, the EU is and will remain a pivotal market for us; being that right now the market takes up close to half of the output we generate in Belize.
We on this side certainly in the region, but specifically Belize as a country, must be equally determined, proactive, consistent, committed, and prepared if we are to influence the EU decision making process and more importantly, transform our industry to face the challenges we know that are ahead of us. Together we must secure a future for sugar. We believe it can be done. When I saw "we," I speak on behalf of the government. I know BSI shares the same view and I know the cane farmers, you yourselves, share the same views. But we can't just speak it; we can't just have it in theory. It requires determined action on our part to move ahead with certain reforms that we know are necessary. So the discussions today must, brothers and sisters, be geared towards identifying pragmatic clear steps that we must take in order to make ourselves more competitive."
The new sugar cane prices will be in effect until 2014. It is expected the new regime will drive most countries out of the sugar business and Smith estimates that in this region only Belize, Jamaica, Guyana, and Suriname will remain.
