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Barbados: Current business model employed in the sugar industry is unsustainable

Cognisant that the current business model employed in the sugar industry is unsustainable, Minister of Agriculture and Food Security, Indar Weir, says plans are on stream to revamp it soon.

Minister Weir spoke to this as he delivered remarks yesterday morning at the Calvary Temple Community Church at Groves, St. Philip, where the congregation was celebrating the 2019 Sugar Cane harvest. Weir said the reality concerning the business model has made it necessary to look at ways to improve efficiencies and as such, he told those gathered that the intention is, in the not too distant future, to transition the industry to be private sector led.

In that vein, he revealed that a private sector entity will take over the operations of the factory and lands, which are currently managed by the state-owned Barbados Agricultural Management Company (BAMC). This move, he explained, should allow the industry to become more financially viable going forward.

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