Let's hope that this a well planned program. It would mean a lot to be competitive, especially against the beet root sugar lobby in the US and Europe.
From Love FM News
Cabinet expressed support initiatives aimed at maintaining the sugar industry as a major contributor to economic growth and stability. A new European Union sugar regime comes into effect on July 1st which will reduce the price of sugar. The initiatives focus on reforming the industry's practices to meet the price and supply forecasts of the market in the short and medium term, and at the same time ensure that the industry's contribution to economic growth and foreign exchange earnings are sustained. The full cost for implementation of the Sugar Adaptation Strategy is estimated at two hundred and eighty million dollars and includes cost estimates for proposed activities to be implemented over a ten-year period through 2015. Some two hundred and sixty-four million dollars will be spent during the first and second phase between now and 2010. This is expected to make the Belize sugar industry internationally competitive and sustainable by 2010.