Belize City- The year 2017 has so far shown excellent growth figures for the sugar industry. This much can be deducted from the monthly economic report for July 2017, which was published earlier this month by the Central Bank of Belize.
The volume of sugar exports for January through July 2017 increased by 38.0% to 116,149
long tons with sales to the European Union (EU) expanding by 26.5% to 104,172 long tons. A 16.9% upswing in the average price raw bulk sugar, resulting from a temporary slowdown in global production, contributed to a 61.3% boost in export earnings to $109.7 million.
According to the Central Bank, global prices are expected to decline in the second semester when Brazil and other major producers commence harvesting. Exports of molasses rose by 23.3% to 37,677 long tons, which generated $7.9mn.