Floods, Rains cost sugar industry $1b

Sugar producers say heavy rain during the Queensland harvesting season has cost the national economy about $1 billion.

The lobby group Canegrowers says more than 5 million tonnes of cane remain unharvested because of wet conditions.

That is about 18 per cent of the crop, with Mackay, Proserpine, Maryborough and Bundaberg growers worst affected.

Canegrowers says it has been very disappointing for growers who have not been able to take full advantage of a 30-year high in sugar prices.

It says the industry has made a $320 million loss, and the flow-on effects will cost the national economy $800 million.

Canegrowers says productivity and profitability will be down next year as well, because continual rain has delayed the planting of next year's crop.

source: abc.net.au