There is good news coming out of the Sugar Industry tonight. A release issued by the Belize Sugar Industries Limited confirms that the average final price for the ton of cane for the 2016/2017 crop season is estimated at $64.00, which includes payment for bagasse. This means that cane farmers are expected to receive $9.05 to $ 9.28 per ton of cane for their third and final payment.
These numbers are based on the quality of cane that was delivered to the factory during the 2016/2017 crop season. This estimation spells some really good news for cane farmers as the estimation for this crop is an average of twelve dollars higher than last crop when they received a total of $52.24.
For the 2016-2017 cane crop, the lowest payment is of $65.02 while the highest payment which reflects the test group who delivered the highest quality cane during the entire crop season will be receiving $66.76. The payment is schedule for Monday November 6th 2017.