The Commission of Inquiry into the Sugar Cane Industry held its first public hearing today at Escuela Secundaria Tecnica Mexico in The Corozal district. The Commission which was made official on March 19th by Prime Minister John Briceno is expected to present recommendations on various components in the industry.
The first stakeholders to appear today was ASR BSI which sent a number of senior executives to testify. Here's a snippet.
Shawn Chavarria, Director of Finance, ASR/BSI
"What we should concentrate on is growing the pie, increase and enhance the value for the products we are receiving. Lower costs through the logistics and therefore you will have a bigger revenue base and on the field sector we know that what are some of the inefficiencies there if we can address those then you have better value for the products and you have lower costs and therefore you have a more profitable farmer so that's been our strategy and while we've done the former we have lacked behind on the later and I think that's why we have been so insistent that has to be the focus right, looking at the field reform and trying to modernize the sugar act to create a better investment climate for all stakeholders including the growers because obviously they want to feel that whatever investments they put in they have that certainty that they will have that opportunity to deliver their cane."
Today's session lasted about 5 hours.
ASR BSI continues its testimony tomorrow. After that the BSCFA leaders appear.
The hearings will continue up until Saturday August 31st, The commission is expected to submit its final report to GOB by November 30th 2024.
