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Sugar Mainly Responsible for Drop in Domestic Exports September

2 November 2018 by Thebeliz

sugar cane
Revenues from sugar fell
significantly by 27.2 percent in the month of September.

Belmopan- Diminished returns from sugar was the principal cause of the decline in export earnings for the month of September 2018.

Although exported volumes of this commodity saw only a slight 3.3 percent drop compared to September of last year, revenues from that commodity fell significantly by 27.2 percent, from $28.5 million to $20.7 million, as bulk sugar was sold for noticeably less on the European market compared to last September.

According to figures by the Statistical Institute of Belize ((SIB) Bananas saw a smaller reduction in earnings for the month of September, falling by less than a million, from $8 million in September 2017 to $7.1 million in the same month this year, while revenues for citrus products remained virtually unchanged at approximately $3.6 million.

Marine products show increase
Among the major commodities, marine products recorded the only increase in September, as export earnings for rose from $2.3 million to $3.1 million, due to boosted sales of whole lobsters, lobster meat and shrimp. Molasses and sawn wood, while not classified as major exports, fell sharply in the month, resulting in a combined revenue loss of $2.2 million when compared to September 2017.

Filed Under: Agriculture, Belize, Economy

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