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Sugar deal

GERALYN EDWARD, [email protected]

Sugar deal

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A DEAL TO PULL the sugar industry back from possible collapse has been brokered.

Yesterday, Sagicor’s chief operating officer Edward Clarke and Minister of Finance Chris Sinckler confirmed to the MIDWEEK NATION that following a number of meetings, a three- to five-year plan had been hammered out that would encourage Barbados Farms Limited to continue to keep its over 3 000 acres of land in sugar production.

Barbados Farms, a subsidiary of regional financial services giant Sagicor, had threatened to pull its agricultural lands out of sugar production after years of losses. Fears had also been expressed by other sugar farmers that if Barbados Farms pulled out, the entire sector would collapse.

Please read the full story in today’s Midweek Nation, or in the eNATION edition.