USA : Belize Sugar Industries looking to set new record for raw bulk sugar exports to United Kingdom
Belize Sugar Industries (BSI) is set to break a national record with its export of 39,500 metric tons of raw bulk sugar to the United Kingdom, valued at BZ$49 million. The shipment, expected to take eight days, follows a major investment in the Port of Big Creek to enhance logistics and reduce loading time from 40 to 8 days. The improvements will save costs, benefiting sugarcane farmers, and contribute to foreign exchange earnings for Belize.
The Belize Sugar Industries (BSI) is preparing to set a new record for raw bulk sugar exports to the United Kingdom. This achievement follows improvements made to raw sugar and molasses logistics facilities at the Port of Big Creek in June 2022. The company invested heavily in the port to enhance its export capacity and lower logistics costs. Over the next eight days, BSI plans to load 39,500 metric tons of raw bulk sugar, valued at approximately BZ$49 million.
William Neal, Communications and Government Affairs Officer for BSI described the shipment as a major milestone for Belize.
“We believe this sets a national record for a single product being exported from Belize. The shipment of 39,500 metric tons of raw bulk sugar to the UK is valued at about 49 million Belize dollars. Loading will take about eight days. With the upgraded logistics operations at Big Creek, we can load between five and seven metric tons a day. Although we faced some challenges due to rain, it is a major improvement over the previous system using a tug and barge off the coast of Belize City, which took about 40 days to load the same amount of sugar.”
Neal also emphasized that apart from reducing the loading time, the facility helps the company save money and pass those savings to sugar cane farmers.
“The savings we achieve are shared with farmers under the net strip value agreement in our contracts. Farmers receive 65% of the savings. This system not only saves money but allows us to service markets faster than we could with the older system. Additionally, the savings are significant because, after a certain number of days, ships incur moorage charges. These charges can range from $25,000 US a day or more, depending on the size of the vessel. Imagine paying that daily after 14 days, rain or shine. This shipment highlights the importance of the 30 million-plus Belize dollar investment in Big Creek, which has proven to be a strategic decision benefiting the entire Northern sugar industry.”
The shipment is also expected to generate significant foreign exchange earnings for Belize.
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Source : Chinimandi
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