Cane farmers will get their fourth cane payment of $17.03 per tonne on Friday which will bring the total payment to $86.66 per tonne for the 2024 season, surpassing the Government's guaranteed price of $85.00 per tonne.
Fiji Sugar Corporation says a special one-off payment of $5 per tonne without any deductions will also be made to the farmers before 30th May.
FSC says in accordance with the Sugar Industry Master Award, it is certified that the net share of cane proceeds received and receivable by growers as at 30 April stands at $115,427,843, equivalent to $86.66 per tonne.
They say to date, FSC has paid a total of $69.63 per tonne, comprised of delivery payment of $43.06 per tonne second payment of $14.35 per tonne and third payment of $12.22 per tonne.
FSC says the upcoming fourth payment will complete this phase of the payment cycle and bring the total paid to growers to $86.66 per tonne.
They say this milestone reflects their commitment to supporting cane farmers and the Government's continued efforts to stabilise and revitalise the sugar industry, even amid extreme global market challenges and FSC's own well-known chronic liquidity constraints.
FSC Board Chairman Nitya Reddy says the Corporation's unrelenting efforts to exceed the guaranteed price were a definite sign of progress in the sector and an expression of its deep empathy for all the stakeholders.
He says they know what farmers are up against, and they are doing everything within their to ensure that they get a fair return.
Reddy says paying more than the guaranteed price shows that they are not just meeting expectations, but also zealously striving to exceed them.
The Chair says the additional support of $5 which is over and above the guaranteed price, is aimed at assisting growers in preparing for the 2025 harvesting season, demonstrating the government's commitment to the industry and the farmers.
He says this extra support from the Government could not have come at a better time as it goes straight to the farmers and will ease some of the pressures as they gear up for the 2025 season.
The fifth and final cane payment for the 2024 crop will be made in October 2025, as scheduled.
FSC has also confirmed the start dates for the 2025 crushing season, with Lautoka Mill starting on 11th June, Labasa Mill on 17th June and Rarawai Mill on 24th June.
Reddy says on current forecasts, barring any major weather events, they are looking at an increase in crop of nearly 200,000 tonnes, an increase of 15 percent over the 2024 crop of 1.33 million tonnes.
He says this will mean at least 20,000 tonnes of additional sugar revenue, which will partially offset the current declining world market prices.
The Chair says to process this crop, they seek the full cooperation of all their stakeholders as the industry can no longer be treated as a cauldron of conflict and confrontation.
Reddy also thanked the Government for its continued support and recognised the ongoing contribution of growers.
He says they still have lots of work to do, but this is a step in the right direction.
The Chair says they are working with the Government, growers, and all stakeholders to keep this industry moving forward and he is urging for patience, understanding and support of all.
Reddy adds within a week, the nation is going to benefit from an injection of nearly $30 million and with its far-reaching linkages, its benefits will not just be shared by the farmers but the entire nation.
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