Implications of Modernizing the Sugar Industry of Belize

The sugar industry of Belize is faced with challenges from within and without. Trade liberalization and policy adjustment measures, on the international front, brought increased pressures on the preferential markets for sugar affecting both volume and price levels. The internal challenges are related to a poor organizational framework, outdated legislation, low productivity and efficiency of sugarcane production, harvesting and delivery, a high level of indebtedness and an associated low level of investment. The paper will present the status of the sugar industry of Belize, the rationale for the modernization of the sugar industry, the steps being taken to modernize the sugar industry and the implications of the modernization process for the sugar sector and the economy of Belize. There is an urgent need to drastically restructure the industry in order to make it more competitive and to ensure its growth and survival as a solid economic pillar in Belize's development.