分类: business

  • Sugar Season Delay: Blessing and Burden?

    Sugar Season Delay: Blessing and Burden?

    In northern Belize, the postponed commencement of the sugar harvesting period is creating a complex scenario of economic hardship and potential agricultural benefits. The delay, impacting numerous cane farming families reliant on December revenues for holiday expenses, presents a dual reality of immediate financial strain against long-term operational advantages.

    Industry representatives characterize the situation as possessing both positive and negative dimensions. While the absence of early cash flow creates significant Christmas season difficulties for agricultural families and local businesses, the additional time permits recovery of weather-damaged fields and allows milling facilities to complete essential maintenance.

    Alfredo Ortega, Vice-Chairman of the Belize Sugarcane Farmers Association, confirmed the industry’s operational unreadiness, noting that extended preparation could ultimately strengthen both farming and milling operations. Ortega emphasized the broader community impact, stating that delayed crop initiation affects regional economic circulation beyond the agricultural sector.

    Association Chairman Salvador Martin identified multiple challenges affecting cultivation readiness, including fusarium fungal infections, persistent drought conditions, and pest infestations throughout the farming region. Martin indicated mid-January as a potential timeframe for improved conditions, expressing hope for more favorable operational circumstances.

    The delayed season timing may yield mutual benefits according to stakeholders. Ortega explained that mill maintenance requirements align with farmers’ needs for extended preparation periods following disappointing third payment distributions in previous cycles. This unexpected additional time enables reinvestment in replanting efforts and improved crop management strategies throughout the cultivation region.

  • Three Years or Seven? Sugar Crop Hinges on Deal

    Three Years or Seven? Sugar Crop Hinges on Deal

    The Belize sugar industry stands at a pivotal crossroads as negotiations between cane farmers and processing mills approach a critical phase. With the harvesting season imminent, stakeholders are working to resolve a fundamental disagreement over contract duration that could determine the sector’s stability for years to come.

    Belize Sugar Industries Limited (BSI), the primary processing facility, has proposed a seven-year commercial agreement seeking long-term operational certainty. This position contrasts sharply with the Belize Sugar Cane Farmers Association (BSCFA), which reports its members have unequivocally mandated leadership to accept no arrangement exceeding three years.

    Association Chairman Salvador Martin emphasized the farmers’ position: “Our membership has clearly expressed the need for a safe crop window of two to three years during our general meeting. This directive has been formally communicated to BSI-ASR, and we await their response.”

    The disagreement occurs against a backdrop of historical tensions that have previously led to operational standoffs and production shutdowns. Both parties now appear more motivated than in previous years to find common ground and avoid further disruption to the economically vital industry.

    Vice Chairman Alfredo Ortega noted the historical context, explaining that three-year agreements with rollover provisions had been customary practice in the past. “Our farmers specifically instructed us not to exceed this traditional timeframe unless renegotiation clauses are invoked by either party,” Ortega stated.

    The association leadership has characterized the current situation as having “the ball in the factory’s court,” indicating they’ve fulfilled their procedural obligations by submitting the farmers’ position in writing. The industry now awaits BSI’s response, which will determine whether the parties can bridge their differences or face another potentially damaging impasse.

    The outcome carries significant implications for Belize’s agricultural economy, as sugar production remains a cornerstone of rural employment and export revenue. The resolution of this contractual dispute will directly affect harvesting schedules, international export commitments, and the financial stability of thousands of farming families.

  • Sugar Farmers Reject PM’s Peacekeeping Claim, Demand Real Reforms

    Sugar Farmers Reject PM’s Peacekeeping Claim, Demand Real Reforms

    BELIZE CITY – Belize’s sugarcane industry faces renewed tensions as farmers directly contradict the Prime Minister’s assertion that his intervention has stabilized sector relations. The Belize Sugarcane Farmers Association (BSCFA) has publicly rejected governmental claims of improved dialogue, demanding concrete policy reforms rather than diplomatic overtures.

    Alfredo Ortega, Vice-Chairman of the BSCFA, provided unequivocal commentary regarding the current administration’s handling of the sugar industry. “We have not seen changes as yet,” Ortega stated during a recent interview. “We have been asking for changes that will really assist all players – the farmers, the millers, and the government.”

    The association’s leadership emphasized the need for structural reforms that establish equitable conditions across the industry value chain. This development follows the Prime Minister’s assumption of direct oversight responsibilities previously managed through the Ministry of Agriculture.

    Notably, farmers expressed appreciation for former Agriculture Minister Jose Abelardo Mai, whose resignation created the current administrative vacuum. Ortega acknowledged Mai’s continued advocacy despite no longer holding official responsibility for sugar affairs, while also extending wishes for the former minister’s health recovery and potential return to government service.

    The industry’s restructuring places daily operations under the joint supervision of the Prime Minister’s Office and Minister of State Martinez, who have claimed ongoing dialogue with both agricultural and processing stakeholders. However, farmer representatives maintain that these discussions have yet to produce meaningful progress toward addressing fundamental imbalances in the sector.

    The sugarcane industry remains a critical component of Belize’s agricultural economy, with its stability directly affecting numerous rural communities and national export earnings. The current impasse reflects deeper structural challenges in balancing the interests of agricultural producers, industrial processors, and governmental regulators.

  • GOB Pushes Local Manna Noodles Amid Opposition Criticism

    GOB Pushes Local Manna Noodles Amid Opposition Criticism

    The Belizean government has enacted a significant trade policy shift by implementing a twenty-percent import tariff on foreign-made soups and broths, with ramen noodles being the primary target. This strategic move, championed by Prime Minister John Briceño’s administration, is designed to bolster the domestic market position of the locally manufactured ‘Manna’ noodles, produced by the Caribbean Organic Food Stuff Company—the same entity behind the popular Mine Beer and Manna flour.

    Prime Minister Briceño defended the policy, framing it as essential economic protectionism. He clarified that the tariff is not a defensive measure against imports but a proactive initiative to safeguard Belizean production. Contrary to assumptions, Briceño asserted that the local alternative is already priced more competitively than its imported counterparts. The policy received the necessary approvals through Cabinet and CARICOM, in alignment with the Single Market Economy protocols to which Belize is a signatory.

    However, the policy has drawn sharp criticism from opposition leader Tracy Panton. While she expressed support for the government’s broader objective of empowering local food processors, she vehemently questioned the choice of product. Panton condemned ramen noodles as ‘the worst food on the market’ and ‘the food of choice for the working poor,’ arguing that the policy inadvertently promotes an unhealthy dietary staple. She challenged the administration to instead create frameworks that enable local producers to compete with nutritious, affordable food options that support public health and wellness.

  • Grenada to auction EC$10 million Treasury Bill on 15 December

    Grenada to auction EC$10 million Treasury Bill on 15 December

    The Government of Grenada will conduct its final securities auction of 2025 on December 15th, offering a 365-day Treasury Bill seeking to raise EC$10 million through the Eastern Caribbean Securities Exchange. This auction represents the culmination of Grenada’s annual borrowing activities on the regional market.

    The investment instrument features a maximum interest rate of 5.0% and will be available for bidding between 9:00 am and 12:00 pm through the primary market platform. According to official documentation, Grenada has successfully raised over EC$110 million throughout 2025 across seven separate auctions, comprising four 91-day Treasury Bills and three 365-day Treasury Bills.

    Proceeds from these securities offerings are strategically allocated to refinance existing Treasury bills and notes currently circulating in the market. This approach forms an integral component of the government’s comprehensive Debt Management Strategy, specifically designed to minimize borrowing costs by reducing dependency on overdraft facilities.

    A significant advantage for investors lies in the tax-exempt status of yields, which are not subject to any form of taxation, duty, or levy by participating Eastern Caribbean Currency Union (ECCU) governments. This favorable tax treatment enhances the effective return for market participants.

    Concurrently, Grenada has pioneered financial inclusion through its innovative Retail Bond Programme, launching an inaugural EC$5 million offering specifically tailored for individual investors. This initiative features an accessible minimum investment threshold of just $500, coupled with a 2-year investment term and tax-free returns. The program serves dual purposes of facilitating wealth accumulation while promoting financial literacy among first-time and small-scale investors throughout the Eastern Caribbean region.

  • Rebublic Bank sows $2 million across regional projects with ‘Power to Make a Difference’

    Rebublic Bank sows $2 million across regional projects with ‘Power to Make a Difference’

    Republic Bank (EC) Limited has inaugurated its 2025-2026 Power to Make a Difference (PMAD) cohort, reinforcing its commitment to purpose-driven social investment across six Eastern Caribbean territories. The official launch occurred on December 10, 2025, at the Sandals Grande Ballroom in Saint Lucia, where fourteen new and returning partner organizations were formally introduced under the program’s revitalized theme: ‘Powered by Purpose, Transforming Communities.’

    Now in its fourth year, the PMAD program represents the bank’s strategic approach to corporate social responsibility, aligning with both the United Nations Principles for Responsible Banking and the Sustainable Development Goals. Over the past five years, Republic Bank has channeled over EC$6.3 million into community development initiatives, with nearly EC$2 million dedicated specifically to PMAD projects in the last three years alone.

    The 2025-2026 cohort showcases a diverse portfolio of projects targeting youth empowerment, environmental sustainability, healthcare accessibility, and economic development. Each territory will benefit from tailored interventions designed to address local needs while fostering regional progress.

    In Dominica, the Waitikubuli Artist Association will establish the nation’s first formal Visual Arts Diploma Program, significantly advancing cultural education. Simultaneously, the Rotary Club of Portsmouth will construct a new playground at Morne Jaune Primary School to promote childhood development through safe recreational spaces.

    Anguilla’s programming emphasizes maritime heritage and technological innovation. The Anguilla Sailing Association is revitalizing the sailing scene with new vessels and expanded training, while the newly partnered Anguilla Robotics Association will introduce hands-on education in robotics, coding, and artificial intelligence, with particular focus on engaging girls and underserved youth.

    St. Kitts & Nevis welcomes the St. Kitts & Nevis Robotics Association, which will provide over 150 students with engineering exploration opportunities through STEAM challenges. The Sandy Point Agricultural Co-operative Society continues its mission to enhance food security by expanding rainwater harvesting systems for climate-resilient farming.

    St. Vincent & the Grenadines sees the addition of Esther’s Promise, offering vulnerable young women safe housing, empowerment training, and essential life skills development to facilitate their transition toward independence and sustainable employment.

    St. Maarten’s initiatives address both social inclusion and environmental concerns. The Freegan Food Foundation combats food insecurity through nutritional aid and wellness programs, while new partner EPIC establishes a recycling workspace that unites youth, seniors, and persons with disabilities to combat plastic pollution. The National Institute of Arts continues leveraging orchestral music as a tool for social inclusion among underprivileged children.

    Saint Lucia demonstrates continued momentum in innovation and inclusion through four distinct partnerships. Orbtronics advances STEM education with industry-level robotics training, while the National Council of and for Persons with Disabilities expands its media-based aquaponics project to foster economic independence. The Daren Sammy Foundation supports promising student athletes from low-income backgrounds through comprehensive mentorship programs, and St. Mary’s College Secondary School bridges the digital divide with practical technology education.

    Tracy Bartholomew, Managing Director of Republic Bank (EC) Limited Group, articulated the program’s core philosophy: ‘True power lies in purpose. When purpose drives us, transformation is inevitable. Every action we take—every partnership we forge—has the potential to change lives. Together, we will continue to make a difference—one project, one community, one life at a time.’

    Partner representatives emphasized the transformative impact of Republic Bank’s approach, noting that the investment ‘has assisted partners in learning, growing and expanding past the bounds of initial imagination,’ characterizing the relationship as going ‘beyond the obligation of Corporate Social Responsibility’ toward ‘authentic relationships under the umbrella of a shared passion for positive, lasting change.’

  • Food, Housing, and Fuel Lead 2025 Inflation Rise

    Food, Housing, and Fuel Lead 2025 Inflation Rise

    The Statistical Institute of Belize has released its latest economic report, revealing a discernible uptick in the nation’s inflation rate for the first ten months of 2025. Data indicates a 1.2% overall increase in the Consumer Price Index compared to the corresponding period in 2024, signaling a heightened financial burden on households across the country.

    A granular analysis of the report pinpoints the primary drivers of this inflationary pressure. The most significant surges were recorded in two fundamental categories critical to daily living. Expenditures on food and non-alcoholic beverages escalated by 1.9%, while costs associated with housing, utilities, and fuels witnessed a more pronounced jump of 2.4%. This trend underscores the growing cost of securing basic necessities for the average Belizean family.

    Among the specific items, the price of butane gas emerged as a standout, experiencing a dramatic 8.4% year-over-year increase. In practical terms, this inflation translates to an additional expenditure of nearly ten Belize dollars for every 100-pound tank, placing further strain on household budgets.

    The inflationary experience was not uniform across all districts. Geographic disparities were evident, with San Pedro Town registering the highest cumulative price increases nationally. Conversely, Independence Village presented a unique case as the sole municipality to document a net decrease in consumer prices, offering a contrasting economic narrative within the nation.

  • Angostura boss on Caroni Bitters launch: Let’s get all the facts

    Angostura boss on Caroni Bitters launch: Let’s get all the facts

    Amid the quiet launch of Caroni Bitters by former executive Vidia Doodnath, Angostura Holdings chairman Gary Hunt has adopted a measured corporate stance, declining to disclose the renowned rum and bitters manufacturer’s specific response strategy. Hunt addressed journalists during a media briefing at the House of Angostura on Eastern Main Road, Port of Spain, where the company celebrated its inaugural shipment of the Ready to Drink product ‘420’.

    When questioned about the emerging competition, Hunt characterized the situation as ‘delicate’ and requiring thorough examination. ‘I will not make any judgements or pronouncements at this time,’ Hunt stated. ‘The matter is receiving our fullest attention, and we are responding appropriately. We must gather all facts before providing a comprehensive response.’

    Despite his reserved commentary, Hunt explicitly confirmed he was not surprised by Doodnath’s market entry. He also revealed that Angostura had not initiated contact with its former executive since learning of Caroni Bitters’ December 7 launch.

    The new competitor directly challenges Angostura’s global bitters dominance, which has maintained its secret recipe for nearly two centuries. Founded in 1824 by Dr. Johann Siegert as medicinal stomach remedy, Angostura Bitters evolved through his sons’ migration to Trinidad, where Don Carlos Siegert transformed it into a cocktail and culinary essential.

    The company’s market position appears robust despite new competition. Recent financial disclosures show an 8% revenue increase from $698 million in 2024 to $757 million in 2025, with post-tax profits rising 10% to $104 million for the nine-month period ending September 30.

    Angostura’s industry accolades reinforce its market strength. The company’s Orange Bitters variation was recognized as both the top-selling and top-trending bitters globally in 2018 by Drinks International, additionally receiving the platinum medal at the Spirits International Prestige Awards that same year.

    Attempts by Newsday to reach Doodnath through her husband on December 12 were unsuccessful, with sources indicating she was indisposed and would return contact. No response was received by press time.

  • Keston Howell named new BATT executive director

    Keston Howell named new BATT executive director

    The Bankers’ Association of Trinidad and Tobago (BATT) has unveiled Keston Howell as its newly appointed executive director, marking a significant leadership transition for the nation’s premier banking organization. Howell assumes the role following Kelly Bute-Seaton’s decade-long tenure, bringing with him an impressive three-decade career within the financial services industry.

    According to an official association release, Howell’s extensive background includes senior executive positions across major financial institutions. His professional portfolio demonstrates particular strength in industry development, evidenced by his active participation in key sector bodies such as the Securities Dealers Association of TT (SDATT) and the Association of TT Insurance Companies (ATTIC).

    BATT’s statement emphasized that Howell’s cross-sectoral experience has cultivated a comprehensive understanding of the financial services ecosystem, establishing him as a recognized proponent of transparent, consumer-focused banking practices. His advocacy for responsible financial services has positioned him as a respected voice within Trinidad and Tobago’s banking community.

    The association outlined Howell’s mandate to spearhead strategic initiatives aimed at enhancing public engagement and advancing financial literacy nationwide. His leadership will focus on driving economic revitalization efforts, championing business-friendly solutions, and accelerating the digital transformation of Trinidad and Tobago’s financial infrastructure.

    BATT further noted that Howell remains dedicated to ensuring the banking sector’s continued contribution to national development, with emphasis on sustainable economic growth, technological innovation, and long-term financial stability for all citizens. His appointment signals the association’s commitment to modernizing financial services while maintaining consumer protection as a central priority.

  • Angostura launches 420 rum drink in Suriname

    Angostura launches 420 rum drink in Suriname

    Trinidad-based spirits manufacturer Angostura Holdings Ltd has achieved a significant milestone in its regional expansion strategy with the inaugural shipment of its premium ready-to-drink rum beverage, 420, to Suriname. The December 12 shipment marks the latest market entry for the product that has been rapidly gaining traction across the Caribbean basin.

    During a media conference at the House of Angostura warehouse in Laventille, Group Chairman Gary Hunt characterized the Suriname launch as a strategic evolution in the company’s product portfolio. “While our iconic bitters and award-winning rums remain the foundation of our global reputation, 420 signals Angostura’s deliberate entry into the ready-to-drink segment,” Hunt stated, emphasizing the company’s adaptation to consumer preferences for convenience, quality, and flavor integration.

    The 420 beverage has demonstrated remarkable market performance since its April launch, exceeding commercial expectations and expanding to multiple territories including Antigua, Barbados, British Virgin Islands, Dominica, St. Lucia, Grenada, St. Kitts, and St. Vincent. Hunt attributed this success to the product’s resonance with contemporary Caribbean consumers, particularly millennials and Generation Z demographics who increasingly favor ready-to-drink formats.

    Angostura is leveraging its centuries-old blending expertise to capitalize on emerging market trends. “We are utilizing our master blenders’ capabilities, knowledge, and know-how to develop superior products that deliver better vibes and better taste,” Hunt explained, highlighting the company’s commitment to innovation-driven commercial strategy.

    Feature speaker Sean Sobers, Minister of Foreign and Caricom Affairs, endorsed Angostura’s approach as exemplary for regional manufacturers seeking to maintain industry relevance. “By leveraging new demands and markets, Angostura continues to place local goods on foreign shelves while exploring investment attraction and global business connection strengthening,” Minister Sobers remarked.

    The government official further emphasized the importance of commercial diplomacy, noting ongoing efforts to recalibrate overseas missions to complement strategic ministerial plans. This recalibration occurs in collaboration with the local business sector to address Trinidad and Tobago’s specific trade and investment requirements through enhanced public-private partnerships.

    The company’s expansion initiative has already demonstrated tangible financial impacts, with Angostura’s nine-month consolidated financial report for the period ending September 30 attributing three percent domestic growth to the successful introduction of its ready-to-drink product line.