Sugar price to drop
November 1, 2012 6:06 pm
Good news, the price of sugar will drop by at least five percent next month.
The Fiji Sugar Corporation will make an announcement later.
FSC executive chair Abdul Khan says it’s all because of improving production costs.
“We looking at a decrease in about December and that’ll hopefully put a bit more dollars back into the hands of the consumers and we are looking at a reduction in prices then.”
On average – two kilograms of sugar costs about three dollars fifty….while the price drop may not be huge, it’s a sign that the FSC is going through a healthy phase.
“As we improve our efficiency in terms of our mills and in terms of the cane processing what it does – it brings down our production cost and when the production cost comes down what we do – we reflect that saving on to the consumers because we only allowed to charge four percent above our production cost.”
There was a thirteen percent reduction last August after the price of sugar went up to cover for imports from Thailand for the local market.