The Fiji Sugar Corporation has welcomed the increase of ex-warehouse sugar by $0.90 (VEP) per kilogram.

Chief Executive, Bhan Pratap Singh has thanked the Fijian Competition and Consumer Commission for their price determination, adding this will enable FSC to channel additional investment in its operations and become more competitive in the global market.

Singh says this decision will not only help support the industry and make it more sustainable in the long term but will make sugar cane farming more lucrative.

He adds this is good news for farmers and other FSC stakeholders.

Singh says the sugar industry has had to endure some very challenging conditions, with the massive economic impact of the COVID-19 pandemic, as well as catastrophic tropical cyclones.

He says there have been significant shifts in the global markets, making it necessary for Fiji’s sugar industry to be more competitive.

The new prices are effective from today.

The new ex-warehouse price for 1kg sugar now is $2.30, 2kg now costs $4.60, and the new ex-warehouse price of 4kg sugar is $9.20, while the new ex-warehouse price for 25kg sugar is $57.50.

This price change is effective for FSC only and all retailers are required to make submissions to FCCC to obtain their approved retail prices.