BELIZE: Cane farmers to receive bonus payments next week
Published: 07/06/2012, 2:59:29 PM
Cane farmers will be receiving second bonus payments for the 2012 sugar crop season next week Wednesday July 11, according to Belize's Love FM radio.
Love News understands that the estimate average price for a tonne of sugar cane is BZD68.12 (US$35.2). There might be a slight variation by cents as BSI still holds some sugar in its storage. The first payment was made at the time of delivery where all cane farmers receive BZD30.05 per tonne of sugar.
In an agreement made between cane farmers and BSI, 91% of the estimate average price was to be receive in the second payment. So roughly, based on our mathematics, cane farmers will be receiving BZD25 next week Wednesday and the remainder 9% on the third payment.
This year it took 9.34 tonnes of sugar cane to produce 1 tonne of sugar when last year it was 8.77 tonnes of cane that yielded 1 tonne of sugar. Last year the average price of a tonne of sugar cane stood at approximately at BZD72.