Government lost more than $17,000 over a nine-month span shipping and selling recyclable materials to a Florida-based buyer, according to information obtained through an FOI request.
The data from the Department of Environmental Health shows shipping costs from 1 June 2017 through mid-March 2018 were nearly $25,000. The revenue earned came in at just more than $7,000.
Cayman 27’s Kevin Morales has more.
“Five years ago, you could make money,” said Junk General Manager. “The value of commodities has plunged.”
Government took on the responsibility of shipping and selling recyclables in 2016. Since then, Mr. Bodden says, more sellers have entered the business and one of the main buyers — China — is no longer active in purchasing materials.
Mr. Bodden says Government could cut its losses by changing the way it ships the materials.
Cayman 27 reached out to the DEH for comment. We’ve yet to hear back.