The Fiji Sugar Corporation (FSC) has achieved higher sugar sales, reporting total sales of $209.7 million for the 2023 financial year, reported Fiji Times. This marks the highest sales figure recorded by the corporation in the past nine years.
Pradeep Lal, Chairman of the FSC, attributed this achievement to a comprehensive review undertaken by the board and management. He noted that the diligent assessment of potential export markets for sugar played a crucial role in this success.
Lal stated, “The strategic evaluation identified export destinations that embrace FSC’s products and yield the maximum value for the offerings. The results have been exceedingly positive, with each market proving profitable for selling sugars of Fiji.”
Mr. Lal highlighted the positive impact of this achievement on the reduction in the government’s support for the guaranteed cane price of $85 per tonne of cane. He explained that since the 2018 season, the government had allocated an average of approximately $41.5 million annually for the guaranteed price, with varying amounts over the years.
