The Fiji Sugar Corporation (FSC) says there will be a reason to celebrate as they expect sugar sales for 2023 to surpass the 2022 season price “with an emphatic margin”.
FSC chairman Nitya Reddy stated this would result in higher cane payments for farmers without any government top-up.
He said the positive outlook for the upcoming year was an opportunity for Fiji to supply sugar to the world market at above-average prices.
“FSC exported 84,880 metric tonnes (mt) of raw sugar so far, 13,760 mt to the United States (US) and 71,120 mt into the European Union (EU) markets,” he said.
“Further, 36,000 tonnes of molasses were exported to the Caribbean. A total of F$142.70 million of revenue has been realised from the export of sugar and molasses.
“It is very likely that given these favourable prices, we will surpass the 2022 season price with an emphatic margin.
“We are quite confident that it could be about the highest ever paid to the farmers in our history and without any Government top-ups.
“We encourage our farmers and all other stakeholders to take maximum advantage of this imminent bonanza. We are optimistic about the market dynamics, and this positive trend is expected to reflect better prices for the future as well.”
