South Africa aims to revive the country’s sugar industry and it has signed a plan for the same. The Master plan ($908 million) was prepared eight months ago but was delayed due to a coronavirus pandemic. It will boost the market and help farmers, industry and retailers.
The agriculture and trade and industry departments said in a joint statement that Industrial users and retailers have agreed to a minimum offtake of sugar for three years, with at least 80 per cent of consumption coming from local farms and millers in the first 12 months.
From the last two decades, the annual sugar production of South Africa has been dropped by 25% as more than 60% farmers have turned away from cane cultivation.