Praneeta Prakash 
[Photo: FILE]
The Fiji Sugar Corporation Limited has announced the release of its third cane payment for the current season, paying farmers $10.91 per tonne of cane, three days earlier than the previously scheduled date of 20 April.
According to FSC Chair, Nitya Reddy, the payment is fully compliant with its obligations under the Master Award governing cane pricing arrangements.
He says that the payment comprises a government top-up of $10.07 per tonne, supplemented by $0.84 per tonne reflecting the actual realized price from sugar sales.
Reddy further says that despite its highly stressed liquidity position, FSC is directly contributing $7.38 million from its own funds towards this payment.
He says the gesture goes beyond FSC’s contractual obligations and is made in recognition of the hardships faced by cane farmers.
