The Fiji Sugar Corporation has confirmed that the third cane payment of $10.91 per tonne was paid today, three days ahead of the previously scheduled date.
FSC said the payment complies fully with its obligations under the Master Award and includes a Government top-up of $10.07 per tonne, with the actual realised price at $0.84.
Despite facing liquidity challenges, FSC contributed $7.38 million from its own funds towards the payment.
Chairman Nitya Reddy said the move, a first in the company’s history, goes beyond contractual obligations and recognises the hardships faced by cane farmers.
