THERE is optimism within the local sugar cane industry that the sector could see better times ahead.
While sugar output this year is likely to be somewhat better than that of last year, Edward Clarke of the Barbados Farms Limited (BFL) believes that the optimism springs from the commitments from Government about supporting the industry while resuscitating it.
BFL is the country’s leading farming group and is listed on the Barbados Stock Exchange.
He told Business Monday that with financing having already been settled by the Government, and commitments for five years, they in the industry will be moving forward to improve the situation.
Clarke pointed out that “this is the first time in many years that financing for the industry had been settled so early”.
Last year, some 7 000 tons of sugar were produced, one of the lowest outputs in recent years.