The Appleton Estate Sugar Factory in Siloah, St Elizabeth is facing closure amidst heavy losses during the 2019-2020 crop year, its owner J. Wray & Nephew Ltd said in a press release on 15th July.
With the 2019/20 campaign underway, sugar output is projected to fall by 20% to 48,000 tonnes from 59,000 in 2018/19, according to press reports. The projected drop is even greater according to USDA forecast last May of 2018/19 output at 76,000 tonnes.
The Golden Grove Sugar Factory is to close by July ’19 as it has not been a profitable concern accumulating a debt of JM$3 billion (US$22.96 million), according to local press reports.
Jamaica’s sugar industry is set to benefit from the development of a comprehensive financial and economic model being piloted by an EU-funded technical assistance consultancy programme.
The Jamaican government is planning to invest more than JM$1 billion (US$7.8 mln) through the Sugar Transformation Project to develop a sustainable private-sector-led sugar industry, according to local press reports.
The Jamaica government is seeking investors to take over the operations of the Monymusk sugar factory after the owner Pan-Caribbean Sugar Company Limited, a subsidiary of Chinese-based Hua Lien International Holding Co. Ltd, ceased operations after significant losses, according to local press reports.
Less than eight months after taking over the operations of the Long Pond in Trelawny in north-western Jamaica, Agriculture Minister, Karl Samuda say it is closing the sugar factory, according to local press reports.
The Jamaica government has given full assurance that its sugar industry will not be allowed to collapse. This follows from the announcement early this year that the Chinese-owned Pan Caribbean Sugar Company Limited which owns the three sugar factories in the island has said that it will close its lose making operations in Jamaica.
The projects, which include rehabilitation of cane roads and installation of irrigation systems, will be carried out under the Sugar Transformation Programme (STP) in the Ministry Industry, Commerce, Agriculture and Fisheries.
The announcement came via the Education and Information Minister Ruel Reid. He said that Pan Caribbean, which operates the Frome sugar factory in Westmoreland, Monymusk in Clarendon and Bernard Lodge in St Catherine, had racked up losses amounting to US$60 million.