“My Government is the only one in the history to introduce the guaranteed cane price of $85 per tonne irrespective of the world sugar market price.”
This was stated by the Prime Minister and Minister for Sugar, Voreqe Bainimarama while responding SODELPA MP Inosi Kuridrani who had asked for an update on the Ministry’s plans to revitalise the Sugar Industry.
Bainimarama says the guaranteed price has not only given security and certainty to farmers but has also supported their bottom line.
He says his Government is also working with their counterparts to ensure the export of sugar to foreign destinations attracts low or zero rated duties to give Fiji a competitive advantage over other sugar exporting countries.
The Minister for Sugar adds the recent price review of sugar in the domestic market will further consolidate the pricing for farmers and ensure the FSC applies the right price for its products and generate revenue to perform targeted investments to increase crop yield, improve mill efficiency and product diversification.
Bainimarama says the sugar industry is like any other business and to sustain it they need to achieve a break-even volume of crop, the required volume of sugar and set the right price levels to be viable in the business.
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