The St. Kitts and Nevis government has announced that they will scale back and restructure its sugar industry operations at the St. Kitts and Nevis Manufacturing Corporation. Dr. Denzil Douglas’s administration blames the reduction on declining sugar prices and escalating debt.

Declining sugar prices together with high production costs has created EC$307.6 million/(US$114 million) worth of debt to the corporation, whose main customer is the European Union, who established guaranteed quota agreements. The St. Kitts and Nevis Manufacturing Corporation says it loses US$934.30 for each tonne of sugar produced.

Governor General Sir Cuthbert Sebastian addressed the National Assembly in Parliament saying: "We must accelerate the implementation of my Government's transition programme with a view to moving the industry away from the production and export of sugar at the end of next crop".

The new role of the St. Kitts and Nevis Manufacturing Corporation will be directed on manufacturing sugar and the production of other agricultural products and services. It can also expect that some services will be privatised.

The declining price of sugar will directly affect about 1000 people Kittitians employed within the industry and indirectly another 5000 who live off the sale of sugar. The government couldn’t say how many jobs would be lost, but those affected would get sufficient redundancy notice, statutory compensation and retraining.

St. Kitts and Nevis were both known for the production of sugar since the 17th century. It was the main economic source of revenue until the 1980s when tourism became the major source of foreign exchange.
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