$450 million boost
Jan 29, 2013
BRIDGETOWN, Barbados - BARBADOS will be embarking on a $450 million project to breathe fresh life into the country’s ailing sugar industry. The project was outlined yesterday by Agriculture Minister, Dr. David Estwick, prior to a meeting with industry officials and representatives of two companies which are likely to play key roles in the reconfigured sugar industry. Over the years, the sugar industry has experienced declining output, high production costs and reduced earnings from the European Union, which is Barbados’ main export market for the sweetener. Last year the industry earned about $34 million from sugar sales.
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