The new operators of the sugar industry predict the recently privatised sector could turn a profit within two years, well ahead of schedule, making it a money-making enterprise for the first time in decades.

The Barbados government recently handed over its interests in the sector to a private sector co-op after declaring its intention to end the 30 million dollars a year state subsidy for the loss-making industry.

But while losses were being racked up under state control, a fairly speedy transition to profitability is predicted by Lieutenant Colonel Trevor Browne, Chairman of the Barbados Energy and Sugar Company and the Agricultural Business Company, the two private sector entities that have taken over from the government-owned Barbados Agricultural Management Company.

He was speaking to Starcom Network News on day two of the 2024 sugar harvest.

He explained how this is being achieved.

Lieutenant Colonel Trevor Browne, Chairman of the Barbados Energy and Sugar Company and the Agricultural Business Company.