How is Santander doing Print E-mail
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Thursday, 26 April 2018 00:00

With over a hundred million United States dollars having been invested in Belize, Santander in the Cayo District is now poised to reach a new equilibrium in the production of sugar. The Company is now 70% Belizean. As such Santander will soon be investing in a packing plant to produce sugar both locally and for the Caribbean Region.

While Santander exports its sugar mainly to Europe, the current price of sugar there is 11 cents U.S per pound, the lowest it has been for the past 15 years. Adding to that challenge is that there has been too much rain in Belize.  Not giving up on its creditors such as the National Bank of Belize and Regional Banks, Santander is aiming towards planting 22,000 hectares of sugar cane.

The goal of Santander is to produce 80,000 tons of sugar for the different markets; albeit in 2017 it was utilizing only 16,000 hectares. Santander is now in the middle of a harvest.

The Company based in rural Cayo has also had an innovative relationship with the Belize Electric  Company, since its second harvest,  selling electricity produced from its biomass. For Belize this has proven great for the environment and much in savings in our foreign exchange based fuel bill.

Jose Rodriquez, President of Santander told the Guardian on Wednesday that he appreciates the efforts of the Government of Belize, the Mayor of Belmopan and others for making Santander a success; allowing its investments to have had a  snowball effect on surrounding communities.

Santander is now counting on the importation of superior genetic stock of sugar cane from Barbados, the United States and other Countries for a brighter future. These new sugar varieties are more suitable for Belize’s soil type and climate and will soon add a new zest to our local cold drinks.