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.