At the top of the newscast we told you that BSI has counter-proposed to the cane farmers association in a letter dated today. Well, the contents of that letter are known at this time. Here's what BSI and the cane farmers say: they are willing to negotiate the term of the agreement. The cane farmers have accepted the 7 year proposal, but they want a right to cancel it within a year if they don't agree on a strategic development plan which BSI is coming up with. Today, BSI called that unrealistic.
Second, on the ownership of the cane. The cane farmers are willing to cede their notion of ownership on the condition that they can renegotiate for a percentage for any future bye products which may come from the cane. BSI is willing to accept this but with heavy conditions, principally that they would have to first recover their investment from such bye product before any discussion of a revenue cut.
Third, on the bagasse, a quick look at the letter tells us that this is still a sticking point.
