Cane farmers to finally receive third payment for last crop season

On November twenty-fourth, government approved a loan of ten million dollars to Belize Sugar Industry for working capital for the new crop season and to pay farmers their outstanding balance for the last crop season. After BSI received waivers from the ING and First Caribbean International Banks, Government released its first disbursement today of three point two million dollars.

This money will be used to cover the third payment to farmers for the 2009 – 2010 crop season, which should have been made since November 8th. Chairman of the Committee of Management of Belize Sugar Cane Farmers Association, Alfredo Ortega, says farmers should be collecting their payments today.

The delay in payments to the farmers has also caused a delay in the start of the new crop season. Adding to the delay is BSI’s need for working capital to get the factory ready and to pay farmers their initial deliveries that range between thirty-four to thirty-six dollars per ton. This should be covered in part by the remaining six point eight million dollars loaned by GOB. And while BSI had proposed to start the new crop season on December 13th, representatives of the eighteen Belize Sugar Cane Farmers Association branches, Sugar Industry Control Board, Sugar Industry Research and Development Institute, and the Sugar Cane Production Committee will meet tomorrow morning to decide on a date. Ortega says however that there will be major changes for this new crop season.

source: lovefm