The global sugar market has experienced a dramatic turnaround from the multi-year lows observed in late September and early November, with benchmark prices now surging due to production shortfalls in key exporting nations. This shift has been driven by severe drought conditions in Brazil’s Center-South region, unusually dry monsoon patterns in India, and weather-related stress in Thailand. These disruptions have collectively erased earlier expectations of abundant supply, which had previously pushed prices downward. International agencies, including the International Sugar Organization, now project a significant deficit of 5.47 million metric tons for 2024/25, marking a nine-year high. Private analysts and the USDA also anticipate a multi-million-ton shortfall and a 4.7 percent drop in global inventories by early 2025. Demand remains robust, particularly in emerging markets where consumption of processed foods and beverages is rising. Additionally, growth in ethanol demand adds complexity, as higher crude oil prices incentivize mills to divert cane to biofuel production, reducing sugar availability and amplifying price volatility. The market shift has uneven implications for industry players. While sugar and ethanol groups like Brazil’s Cosan may benefit from stronger prices, food and beverage manufacturers face higher input costs, squeezing margins. Government interventions, such as India’s export restrictions and Mexico’s recent 156 percent tariff on imports, further reshape market dynamics. For Belize, the rebound in global prices could moderate downside risks for cane farmers, though local challenges like disease pressures and potential contraband activity remain concerns. The rally also feeds into broader food inflation dynamics, with economists warning of potential upward pressure on global food prices. Analysts note that sugar markets are historically cyclical, with weather and policy decisions driving pronounced peaks and troughs. While improved rainfall or stronger harvests could soften prices, the current structural tightness suggests heightened volatility through 2026. For Belize, the situation underscores the need for agile policy responses and sustained investment in climate-resilient cane production.
分类： business
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Belize Ports Positioned for Mexico Trade Boost
In a landmark cross-border meeting held on November 12 at the Corozal Free Zone conference room, officials from Belize and Quintana Roo, Mexico, explored strategies to enhance trade, investment, and regional cooperation. The session, attended by high-level representatives from both jurisdictions, focused on leveraging Belize’s cost-effective ports as gateways for goods destined for southern Mexico and beyond. Quintana Roo’s delegation highlighted Belize’s strategic geographic location and its role in facilitating access to CARICOM and other regional markets, paving the way for targeted discussions on joint investment promotion and production initiatives. The meeting also addressed critical areas such as border management, gender-based violence interventions, and beach-erosion responses in the Chetumal Bay area. Both sides agreed to update two Memoranda of Understanding (MoUs) to modernize cooperation frameworks and bolster institutional support for cross-border commerce. The revised agreements will strengthen ties between Belize’s Ministry of Investment and Quintana Roo’s Secretaría de Desarrollo Económico, as well as between the Corozal Free Zone and the Recinto Fiscalizado Estratégico de Chetumal. The Quintana Roo delegation included senior officials from Mexico’s foreign relations, economic development, and trade agencies, while Belize’s team comprised representatives from the Office of the Prime Minister, the Ministry of Human Development, the Ministry of Immigration, the Corozal Free Zone, BELTRAIDE, and key investment and border-management units. The meeting concluded with a shared commitment to advance joint efforts in investment promotion, trade facilitation, and coordinated development initiatives, reinforcing the enduring partnership between Belize and southern Mexico.
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Ashworth Jack: Studley Park will make bricks, enhance profitability
The export of aggregate from Studley Park Enterprises Limited (SPEL) has been hailed as a transformative development for Tobago, enabling the island to capitalize on its natural resources for the first time. Former SPEL chairman Ashworth Jack emphasized the significance of this milestone, countering claims by former prime ministers Dr. Keith Rowley and Stuart Young that the plant could not meet local demand and was thus incapable of exporting. Jack dismissed these assertions as unfounded, highlighting SPEL’s strategic plans to expand operations and maximize production.
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CAL chairman: All hands must be on deck
Caribbean Airlines (CAL) is gearing up for a transformative two-year turnaround plan, as mandated by Prime Minister Kamla Persad-Bissessar. CAL Chairman Reyna Kowlessar expressed unwavering confidence in meeting this ambitious goal, emphasizing the need for collective effort and strategic leadership. Speaking at the Chamber of Industry and Commerce’s Champions of Business ceremony in Port of Spain on November 13, where CAL was honored as the Internationally Known, TT Owned Business of the Year, Kowlessar outlined the airline’s roadmap for revival. Key initiatives include a comprehensive departmental audit, employee upskilling, and filling vacant positions through ongoing interviews. Kowlessar highlighted the strength of the new board appointed in June and stressed the importance of teamwork and progress. CAL is also optimizing its routes, with an ad-hoc committee addressing underperforming flights, such as the recently discontinued Montego Bay/Kingston to Fort Lauderdale route. Acting CEO Nirmala Ramai, who accepted the award on behalf of CAL, underscored the airline’s commitment to excellence and its role as a regional aviation leader. Kowlessar celebrated CAL’s resilience and its contributions to regional relief efforts, including support for Jamaica, a shareholder in the airline. The ceremony also recognized other business leaders and companies, including AP Scott TT Ltd, La Vega Estate, and Coded Arts, for their outstanding contributions to the business community.
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Thirty-five NCCU members honored at 15th anniversary awards
The National Co-operative Credit Union (NCCU) Limited commemorated its 15th anniversary with a grand awards ceremony on November 8, 2025, held at the State House Conference Room. The event brought together key stakeholders, including Her Excellency President Sylvanie Burton, the First Gentleman, and the Honourable Minister for Culture, Youth, Sports & Community Development, Gretta Roberts, to celebrate the organization’s remarkable journey and achievements.
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Vacancy: Housing Authority of Grenada — Accountant
The Housing Authority of Grenada (HAG) is currently seeking a highly skilled Accountant to join its Finance Department. This pivotal role involves maintaining precise financial records, ensuring adherence to accounting standards, and driving the implementation of enhanced systems, documented policies, and efficient workflows. The successful candidate will play a crucial role in modernizing operational practices and supporting decision-making processes across the organization. Key responsibilities include ensuring the accuracy of financial data, preparing financial statements in compliance with GAAP/IFRS, generating financial analyses, and supporting budgeting and forecasting activities. Additionally, the Accountant will oversee inventory accounting, verify procurement transactions, and ensure compliance with the SOE Handbook and statutory reporting requirements. Applicants must possess a Bachelor’s degree in Accounting or Finance, at least three years of relevant experience, and proficiency in accounting software and Excel. Preferred qualifications include professional certifications (e.g., ACCA, CPA) and experience with cost accounting and government reporting. Applications must be submitted to the Human Resources Department by December 5, 2025.
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July 2025 primary deficit worse than projected
Grenada’s fiscal landscape for 2025 presents a mixed picture, with both challenges and achievements highlighted in the latest report from the Ministry of Finance. The total Central Government debt at the end of 2024 was estimated at EC$2.2 billion, setting a significant backdrop for the year’s financial management. In July 2025, the government recorded an overall deficit of $27.9 million, which exceeded both the target for 2025 and the actual figures from 2024. However, the cumulative deficit from January to July 2025 stood at $55.1 million, a notable improvement compared to the targeted $99.2 million, though it still fell short of the previous year’s performance due to exceptional revenue inflows from the CCRIF payout and backlogged CBI applications. The primary deficit for July 2025 was $25.2 million, worse than projected, but the seven-month period saw a primary deficit of $33.7 million, outperforming the target by $39.1 million. Debt servicing remained steady, with principal payments totaling $8.5 million and interest payments at $2.7 million for July 2025. Over the January to July period, principal payments amounted to EC$67.3 million, with interest payments reaching EC$17.6 million. The report, available for public review on the Ministry’s website, underscores the complexities of Grenada’s fiscal strategy amid fluctuating revenue streams and debt obligations.
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Antigua and Barbuda to Import Cheaper Food from Guyana Following Talks Between PM Browne and President Ali
Antigua and Barbuda has announced plans to import fruits, vegetables, and other food products from Guyana in a strategic move to lower supermarket prices and enhance regional food security. The decision was revealed by Maurice Merchant, Director General of Communications, during a post-Cabinet press briefing on Thursday. This initiative stems from discussions between Antiguan Prime Minister Gaston Browne and Guyanese President Irfaan Ali during the COP30 meeting in Belize. The Cabinet has tasked Agriculture Minister Anthony Smith Jr. with collaborating with his Guyanese counterpart to source high-quality agricultural goods for the Antiguan market. Merchant emphasized that nearly 90% of the nation’s food imports currently originate from North America, and this new partnership aims to provide equally high-quality produce at more affordable rates. The initiative is expected to help stabilize food prices once the suspension of the Common External Tariff (CET) on essential items concludes. It also aligns with the government’s broader strategy to address the cost of living and ensure consumers continue to access affordable imports. Officials anticipate that the first shipments from Guyana could reach Antiguan supermarkets by early 2026, pending the finalization of logistics and trade agreements. This collaboration marks a significant step toward achieving CARICOM’s ’25 by 2025′ goal, which aims to reduce regional food import costs by 25% and foster stronger agricultural ties within the Caribbean Community.
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Consumers May Soon See Price Drops From Suspension Of CET on Essential Foods
In a significant move to alleviate the financial burden on households, the government has temporarily suspended the Common External Tariff (CET) on a wide range of essential food items. This decision, part of a CARICOM-wide initiative, aims to mitigate the effects of rising global food prices and provide immediate relief to consumers. Maurice Merchant, Director General of Communications, announced during a post-Cabinet press briefing on Thursday that the suspension is expected to lead to noticeable price reductions within weeks. However, he cautioned that the timeline could vary depending on how quickly supermarkets deplete their existing stock, typically taking one to two months for the changes to reflect on store shelves. The Prices and Consumer Affairs Division has been tasked with monitoring compliance and reporting back to Cabinet within 30 days to ensure that the price reductions are effectively passed on to shoppers. The list of items benefiting from the tariff suspension includes fresh vegetables, fruits, potatoes, carrots, peas, legumes, canned proteins like sardines and corned beef, infant foods, cereals, and cooking oils. Merchant emphasized that the measure will be fully implemented by January 1, pending the finalization of necessary documentation. Additionally, the government is considering expanding the list of zero-rated items and introducing complementary legislation early next year to restrict sugary drinks as part of a broader healthy-living campaign. The Gaston Browne administration remains steadfast in its commitment to ensuring that the benefits of these policy interventions are directly felt by the people of Antigua and Barbuda, through lower prices and enhanced food security.
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Staatsolie keurt commercieel veld voor gasontdekking Sloanea-1 in Blok 52 goed
In a significant step forward for Suriname’s energy sector, Staatsolie Maatschappij Suriname N.V. has officially approved the commercial development of the Sloanea-1 gas discovery in Block 52, located offshore Suriname. This decision, made on November 11, 2025, underscores the successful collaboration between Staatsolie and PETRONAS Suriname Exploration & Production B.V. (PETRONAS Suriname). The Sloanea-1 field, discovered in late 2020, has been evaluated for its commercial viability, leading to the signing of a gas addendum to the Production Sharing Contract (PSC) established in 2013. PETRONAS Suriname, the operator of Block 52 with an 80% stake, alongside Paradise Oil Company (POC), a subsidiary of Staatsolie holding the remaining 20%, has conducted extensive assessments, including the drilling of the Sloanea-2 appraisal well in 2024. These efforts have provided a more accurate estimate of the field’s gas reserves and recoverable volumes. The approved development plan includes gas production wells, subsea infrastructure, and a Floating LNG (FLNG) facility, a first for the region. PETRONAS Suriname will now prepare and submit the development plan for Staatsolie’s approval, with the Final Investment Decision (FID) expected in the second half of 2026. Commercial gas production is anticipated to commence by 2030, aligning with Staatsolie’s vision of ‘Energizing a Bright Future for Suriname.’