Fijian sugar to retain UK market access: Clark
June 11, 2019 12:10 pm
Fijian sugar will continue to get a high premium price despite the uncertainty brought about by Brexit.
Fiji Sugar Corporation Chief Executive Officer, Graham Clark, says there were concerns raised with the continued back and forth discussion between the European Union the UK government with no trade deal in place.
Clark says not only has Fiji been assured that its sugar will be sold as a good, but there is also the demand now coming through of previous importers as well as growing exports in the region.
“The Ministry of Trade has been fantastic, Fiji was one of the first in the group to renew their, it’s called a rollover agreement so the market access to the UK has been assured so notwithstanding a no deal Brexit, we can continue to supply our sugar to the UK thanks to the relevant agreement that’s in place.”
Meanwhile, the Ministry of Sugar Industry has been allocated a budget of $70.4 million for the new financial year, of which more than $65 million will be set aside for capital expenditure.
This is in addition to the $30 million Sugar Stabilization Fund which guarantees farmers a base price of $85 a tonne of cane over the next two years.