February 8, 2026
— says refinery will cut imports, boost regional production
THE Caribbean Private Sector Organization (CPSO) has thrown its support behind major sugar refinery investments underway in Guyana and Belize, describing the projects as strategic moves to strengthen regional food security, reduce import dependence, and rebuild CARICOM’s sugar industry.
In a statement on Saturday, the CPSO said joint ventures involving Sucro Limited, Santander Sugar Limited and GAICO Construction & General Services Inc. will significantly expand the Community’s capacity to refine sugar within the CARICOM Single Market and Economy (CSME).
According to CPSO estimates, CARICOM imported just over US$150 million in refined sugar in 2024, largely from extra-regional sources. The organisation said the refinery projects in Guyana and Belize will help reverse that trend by allowing more raw sugar produced within the region to be refined locally.
“The Belize and Guyana sugar refinery investments will add regional refining capacity and reduce the Region’s dependence on external sources by allowing more of the Region’s raw sugar to be processed within the Community,” the CPSO stated.
In Belize, the refinery will be developed under Caribbean Sugar Refinery Limited and located within the Santander complex at the Valley of Peace. The facility is expected to commence operations before June 2026.
In Guyana, Demerara Sugar Refinery Inc. will be established at the former Wales Estate, utilising refinery assets and technology being relocated from Canada. The refinery will process raw sugar supplied by Guyana Sugar Corporation (GuySuCo), allowing for a rapid start-up once operations begin.
The CPSO also commended President Dr Irfaan Ali and Prime Minister of Belize, John Briceño, for their leadership in advancing the refinery investments and publicly reaffirming government support for the regional sugar industry.
The organisation noted that Prime Minister Briceño reiterated Belize’s policy commitment before the Belize National Assembly on February 2, 2026, signalling strong political backing for private-sector investment in agri-processing.
“The clear policy signal transmitted from the highest political level will further bolster private-sector confidence to increase investments in the agri-food sector and position CARICOM as a stable and secure market for regionally produced goods,” the CPSO said.Chief Executive Officer and Technical Director of the CPSO, Dr Patrick Antoine, described the refinery projects as critical to rebuilding the region’s sugarcane production and agro-industrial capacity.
“These investments are strategic for the rebuilding of CARICOM’s sugarcane production capacity and are closely aligned with the region’s agri-food policy and strategy under the 25 by 2025 plus 5 (2030) agenda, as well as the Community’s Industrial Policy,” Dr. Antoine said.
He highlighted that meeting intra-regional demand must be the immediate priority, noting that securing the CARICOM market would allow the refineries to achieve the scale and competitiveness needed for long-term sustainability.
“Private capital can only transform regional agriculture into agro-industry where market certainty and policy coherence exist across CARICOM,” Dr. Antoine said. “For these investments to achieve their full regional impact, they must be supported by coordinated trade, agriculture, and industrial policies.”
The CPSO said the refinery projects, alongside expanded sugarcane production, mark a critical shift in the Caribbean’s sugar and sweetener value chain and are fully aligned with CARICOM’s goal of reducing the region’s extra-regional food import bill while deepening regional value chains.Source: Guyana Chronicle