Caribbean sugar producers have projected a production of 560,000 tonnes of sugar for crop 2007-2008 after noting that adverse weather conditions have negatively affected sugar production.
According to a press release issued after the 149th meeting of the Board of Directors of the Sugar Association of the Caribbean (SAC), this level of production would allow the region to fulfil its supply obligations to the European Union.
Meanwhile, the directors recorded their full support of the Economic Partnership Agreement (EPA), which provides an opportunity to the regional sugar industry for increased access to the European market with the minimum base being the sugar protocol quota of over 400,000 tonnes raw sugar, the release said. The EPA holds many provisions which are regarded as the starting point for the repositioning of the regional sugar industry. These provisions can be activated by the region’s sugar industry for business development internally or jointly with EU partners.
According to the release, the directors noted that the value of the Euro has been increasing steadily as against the US dollar and this has resulted in additional revenue for some sugar producers.
The directors noted that the government of Trinidad and Tobago has ceased involvement in sugar production as of 2008 and did not have a sugar crop this year. In recognition of this, the Board reaffirmed its pledge to the joint declaration made between the EU and Cariforum that any shortfall by a member country would be redistributed to other member countries of Cariforum.
They also expressed their concern at the slow pace of disbursement of funds by the EU, intended to alleviate the impact of price cuts as a result of the reform of the EU sugar regime.
The directors were also updated on the work being done by the West Indies Central Sugarcane Breeding Station (WICSBS) which has been developing new cane varieties for increased sugar production and for renewable energy through high-fibre cane for co-generation (simultaneously generating heat and energy) and ethanol.
The 149th meeting of the SAC was held in Barbados on May 28 and 29.
