The Sugar region in the Caribbean is diverse and for CARICOM producers (Barbados, Belize, Guyana and Jamaica) and to a lesser extent, the Dominican Republic, prospects are heavily shaped by the readiness of the industry (and governments) to adjust to a new trading environment following the abolition of quotas in the EU on 1st October 2017. Reform of EU sugar policy will result in lower EU prices and shrinking imports. The effective loss of the EU preferential trade is compounded by Brexit which could impact the terms on which Tate and Lyle will purchase Caribbean raw sugar for refining at their Thames Refinery. Elsewhere, Cuba holds great potential but must attract significant foreign investment to boost output. The key objective in this study is to examine the key economic and policy drivers impacting the sugar industry in the Caribbean, with a view to ascertaining the region’s future prospects over the next decade. Because much of the Caribbean industry has not speedily reacted to the long-expected fundamental external challenge presented by EU sugar policy reform, time is now of the essence. Laser-focused implementation of national strategies for industry adaptation, and indeed survival, are paramount and without these, there are real risks that the longer term outlook for the sugar industry in the Caribbean will be more a story of what could have been rather than a celebration of industry and government ingenuity and cohesion in achieving true success.
Introduction A) Industry Overview CARICOM Production Trends Markets Distribution of Sugar Sales Others (non-CARICOM) Production trends Markets Technical Performance B) Current Situation CARICOM Countries Barbados Belize Guyana Jamaica Others (non-CARICOM) Cuba Dominican Republic C) Impact of EU Sugar Reform D) Charting a way Forward (a) Boost Productivity (b)Fulfil Domestic Markets (c) Develop a CARICOM Regional Market (d) Diversification into Green Energy (e) Value Addition (f) Forge Trade Agreements Regional Workshop Recommendations E) Industry Prospects and Outlook Barbados Belize Guyana Jamaica Others (non-CARICOM) Cuba Dominican Republic Conclusions