UK assures to buy sugar from Fiji sugar industry

Fiji’s sugar industry has been given the assurance by its traditional buyers that they are prepared to still take its products, Fiji Sugar Corporation Chairman Bhoo Gautam sais in Nadi.

He told the Fiji Institute of Accountants Congress at the Sheraton Fiji Resort, Denarau the traditional sugar markets in the United Kingdom are ready to buy whatever the quantity Fiji produces.

“Our traditional sugar buyers in the UK have told us that we have to produce more as they are able to accommodate them,” Mr Gautam said.

However, he said, the buyers have to be given a one year notice in order for them to work out their plan.

Although the European Union will reduce its market price by 36 per cent on October 1, Mr Gautum said Fiji has no problem at all.

He said the assurance by the buyers come as a good news to the sugar industry.

Mr Gautam said the industry can recover but it is not going to be easy. The sugar industry contributes heavily to the economy.

“I can assure that we are going to get back to our old form. Personally I feel will be able to do that with the short period of time that I have spent in the industry.

“The assistance received from the government has been of great help to the industry,” he said.

Minister for Commerce Aiyaz Sayed Khaiyum said revamping of the sugar act was a way of improving the industry.

“It is about time Fiji gets away from the old laws and get to the modern day system,” Mr Sayed Khaiyum said.

The price of sugar received by the cane farmers has been subsidized heavily by the European Union.

source: fijisun