Proceeds from the sale of sugar will be shared between FSC and also go towards paying for the initial subsidized guaranteed cane price for growers – Acting PM

Proceeds from the sale of sugar will be shared between FSC and also go towards paying for the initial subsidized guaranteed cane price for growers – Acting PM

By Shanil Singh
Sunday 13/02/2022
Acting Prime Minister Aiyaz Sayed-Khaiyum [image: Parliament of Fiji]

Acting Prime Minister Aiyaz Sayed-Khaiyum says all proceeds from the sale of sugar will be shared between the growers and the miller through a 30/70 percent ratio.

He highlighted this when questioned by SODELPA MP Aseri Radrodro on how the recent sugar price increase will impact stakeholders including the Fiji Sugar Corporation, landowners and farmers.

The Attorney General says with the increase in sugar price, an additional revenue of $23.4 million will be generated and the FSC will receive about $7 million which is 30%.

Sayed-Khaiyum says the FSC will use the additional $7 million to improve the efficiency of the mills and increase cane production.

He says the remaining $16 million will go towards the proceeds of farmers as per the Master Award.

The Acting Prime Minister says as the price is guaranteed at $85 per tonne, the government will save the $16 million from the initial subsidized price.

He says the Fiji Sugar Corporation like any other business needs to stay competitive and has to have a decent investment plan and sufficient cash to implement it.

Sayed-Khaiyum says Government has put close to $500 million in the Sugar Industry since 2016 through various subsidies and other assistance to farmers.

He says apart from government funding they also need market driven solutions too.

Sayed-Khaiyum says the Ministry was aware of the request for an increase in the price of sugar however they did not interfere with the FSC or the FCCC.

He says the FSC wanted an increase of $1.49 per kilogram but the FCCC went with 90 cents per kilo.



Latest Videos

Stay tuned for the latest news on our radio stations

CFL radio frequencies
IN DEPTH
Womens Rugby World Cup 2022
Quarter-final qualification is now the goal for the Rooster Chicken Fijiana 15’s following their 21-17 victory against South Africa.
42 days ago

Queen Elizabeth II passes away
Queen Elizabeth II, the UK's longest-serving monarch, has died aged 96, after reigning for 70 years.
72 days ago

Fiji wins Melrose Cup after 17 years
Fiji wins the RWC 7s title after 17 year drought
74 days ago
FEATURE NEWS
We have one billion dollars worth of investments in the pipeline – PM
Prime Minister Voreqe Bainimarama says they have one billion dollars worth of investments in the pipeline guaranteeing growing employment opportunitie...
27 minutes ago
LATEST NEWS
Man in custody for allegedly stealing vehicle
A 24 year old man alleged to have stolen a vehicle from Suva yesterday is in police custody following a raid conducted by a joint taskforce. Chief ...
11 minutes ago

Christine McVie, Fleetwood Mac singer-songwriter, dies aged 79
Christine McVie, who played with Fleetwood Mac and wrote some of their most famous songs, has died aged 79, her family has said. The British ...
4 hours ago

AAP rules misinformation on NADRA in Fiji
The Fijian Elections Office has acknowledged the factcheck finding by Australian Associated Press in relation to the information that is being spread ...
4 hours ago

Driver who allegedly caused the death of a farmer in Sigatoka bailed
The driver who allegedly caused the death of a 23-year-old farmer from Waibogi Settlement on Sunday has been charged. He was was charged with one ...
5 hours ago

Driver charged for fatal accident in Colo-i-Suva
The 28 year old driver alleged to have caused the death of a 29 year old man following a accident in Colo-i-Suva last week has been charged. The ...
6 hours ago

TOP