Through the transition from bulk sugar to direct consumption there is potential to make the industry more profitable.
The Minister of Agriculture and Food Security, Idar Weir, explained to The Barbados Advocate that with this transition there is potential to make the industry much more profitable than in years past.
“We were exporting sugar at $900 a ton; now we export sugar for direct consumption. ‘A’ grade sugar is now selling at twice the price of bulk sugar per ton, and ‘B’ grade sugar at 44% more per ton. So in both cases we are making more money through direct consumption than when we were exporting in bulk,” he said.
And how does this affect rum production?
The minister also expressed himself on the rum industry and how this change would benefit it. “I want to move to a multi-purpose factory. To be able to expand the sources of income and supply the products demanded by the market and rum producers. Such as molasses and raw juice. We will also put the museum that has been talked about, as part of the development of the new factory. It will be created as a tourist attraction, where the history of our sugar and rum industry will be explained to visitors, and there will be tours of the factory,” he said.
Don’t drink and drive. Enjoy responsibly.