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News

Price of sugar will drop if operation cost is reduce

March 22, 2012 7:08 pm

The price of sugar sold for local consumption will only be lowered if the operation cost is reduced says Ministry of Sugar Permanent Secretary Colonel Manasa Vaniqi.

Vaniqi was responding to queries by FBC News to an earlier statement that they want to bring down the price of sugar sold at retail outlets.

He says the biggest challenge now is the amount of money FSC spends on producing sugar.

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Vaniqi says the operating cost for producing a kg of sugar is $1.45 and the price we are selling our sugar abroad is $1.09.

He says if we bring down the price of producing sugar then consumers can expect a drop in the price.

The last time the price of sugar was dropped was in August last year.

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