Huge increase in sugar imports
Huge increase in sugar imports
By
fijivillage.com
17/07/2009
Figures obtained from Bureau of Statistics shows a huge increase in sugar imports last year compared to previous years.
According to figures last year, we imported $46.7 million worth of sugar for local consumption, which was a huge increase from 2007 where only $3.8 million worth sugar was imported.
Fiji Sugar Corporation, Chief Executive, Deo Saran had confirmed earlier that all sugar produced in the country is exported to European Union countries and other markets, however they have to import sugar for local consumption.
As far as exports are concerned, 260,000 tonnes of sugar was exported last year and raked in $248 million.
In 2007, sugar export earnings were at an all time low, which was $185 million after exporting 220,000 tonnes of sugar.
The best Sugar export income was in 1995, where $279 million was brought in.
Meanwhile, the Reserve Bank of Fiji report states that sugar export income this year decreased by 21%, compared to the increase of 41% last year. The Sugar Ministry revealed that they are working on certain plans to improve mill efficiencies and increasing cane production.
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