All 3 sugar mills in the country have crushed 281,477 tonnes of cane by up to 31st July - FSC

The three sugar mills in the country have crushed 281,477 tonnes of cane by up to 31st July compared to 276,315 tonnes of cane in the same period last season.

Fiji Sugar Corporation’s Board Chairman Vishnu Mohan announced this in a press conference and highlighted that as at 31st July 2018, 26,608 tonnes of sugar was made, compared to 26,341 tonnes in the same period in 2017.

He says sugar recoveries are steadily improving and to date, tonnes of cane per tonne of sugar is approximately 10.5 ‑ similar to 2017, but on track to reduce below the 2017 seasonal average of 9.1.

He says FSC will report a further reduction in its net loss for the 2018 financial year and in addition, positive earnings before interest and depreciation will be reported, compared to the negative results reported in previous years.

Mohan says the first cargo for 2018 is expected to start loading in mid this month and this will be destined for UK/Europe and is to be followed in early September by the loading and shipment of Fiji’s US Quota entitlement.

A third cargo is planned for September 2018 destined for China, being the first of the newly negotiated sales from Fiji to China.

The next cargo will be loaded in November 2018, again likely destined for China.

Depending on the final volume of sugar manufactured, a fifth and final cargo is being scheduled for the first quarter of 2019, possibly destined for Japan or China.

Mohan has also announced that the first Fairtrade accredited sugar sale for 2018 has been secured.

This sale will be for 15,000 tonnes of raw sugar, which will be co‑loaded as part of their first sugar shipment for 2018, expected to be completed and shipped by the end of August this year.

The Fairtrade sale is destined for Europe, and will earn a premium of nearly $2 million, which will be paid equally and directly by the buyer to our three Fairtrade Associations in Fiji.

Further opportunities are being evaluated by FSC for the benefit of the growers, and with assistance from the EU, a Fairtrade market survey is underway to help in identifying new Fairtrade opportunities.