In a significant policy shift, the Belizean government has eliminated price controls on retail sugar products, a move defended by Prime Minister John Briceño as beneficial for both market competition and sugarcane farmers. The January 21st announcement clarifies that while bulk sugar in standard bags remains regulated, pre-packaged retail units (including one-pound and five-pound bags) are now exempt from price controls.
Prime Minister Briceño emphasized that this deregulation creates new market opportunities, allowing any enterprise or individual to purchase bulk sugar and package it for retail sale. “This is open to anybody that would want to be able to package,” Briceño stated, specifically mentioning that Santander Sugar Limited—currently prohibited from direct local sugar sales—could now participate in the retail market through prepackaged products.
The policy change addresses Santander’s ongoing request to sell its refined sugar domestically, though Briceño noted this separate matter remains under governmental review. Importantly, the Prime Minister asserted that sugarcane farmers (cañeros) continue to benefit from local market sales regardless of packaging format, as Belize Sugar Industries (BSI) purchases sugarcane from growers before processing and packaging operations.
This market liberalization represents a shift from previous protectionist measures and is expected to stimulate competition in Belize’s retail sugar sector while maintaining support for agricultural producers through the existing bulk sugar price control mechanism.