DIVERSIFICATION will be fundamental to the sugar industry’s long-term resilience and financial sustainability.
This was highlighted by Fiji Sugar Corporation (FSC) chief executive officer Bhan Pratap Singh at the Dialogue Fiji National Budget Forum in Nadi on Saturday.
Mr Singh said globally successful sugar industries had diversified their revenue streams through renewable energy, ethanol, industrial alcohol and other value-added products.
“Fiji has similar opportunities, through additional value adding, the company can unlock new sources of revenue, strengthen export earnings and create new employment opportunities,” he said.
He said ultimately, the success of the sugar industry should not be measured simply by the level of government support it received.
“It should be measured by how effectively that support is translated into economic returns.
“Better resource utilisation, improved productivity, flow on effects into the community, support to rural livelihoods, healthier financial performance and sustainable economic returns.
“Our long-term vision – targeted capital investment linked directly to productivity improvements, gradually improving of the debt situation, diversified revenue streams through value-added industries and, over time, a reduced reliance on Government guarantees.
“The national budget provides the platform to accelerate that journey.”
