BSCFA and BSI reach agreement over loss of molasses

The Belize Sugar Cane Farmers Association (BSCFA) and the Belize Sugar Industry, BSI say they have reached an amicable agreement concerning  the  loss  of molasses  due  to  Maillard  Reaction. You may recall that back in July of  2016,   a  chemical  reaction called a Mailard Reaction,   occurred at the BSI factory where almost 4  thousand tons  of molasses went bad. All those molasses would have fetched nearly half a million dollars in sales revenue and the farmers believed that BSI should have paid for the loss. It led to many back and forth press releases from the two entities and even a small protest by the farmers. Almost a year later, both sides are now happy with their agreement on that issue. Today, a press release issued said that

“ the BSCFA submitted a claim for payment of its share of revenues and BSI agreed to compensate BSCFA’s members in the amount of $101,820, which amount corresponded to their portion of the estimated loss  of  revenues.    BSI has  agreed  to  make  these  payments  within  two  weeks  of  the signing of the agreement together with 6% interest for the period November 7, 2016 to the date when payments are made.    Both parties agree that neither has liability to the other for this loss of molasses and have made adjustments to their systems and record-keeping to increase vigilance and to, as much as possible, prevent the re-occurrence of this reaction.”

The release also says that both parties view the settlement as  an  opportunity to strengthen their relationship  as  business partners in  Belize’s sugar industry.

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