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The future of sugar

May 24, 2013

May 24, 2013

Blogger Navosavakadua has warned that the $80 a tonne FSC has announced for cane means that the industry will not last beyond the 2014 elections. FSC has been borrowing money to pay farmers $54 a tonne, so $80 a tonne must mean even larger borrowing. At the same time, long time farmers representative, Bala Dass, has warned that $80 a tonne is not enough to save the industry. Costs for farmers have risen faster than the cane payments and farmers have been struggling to get the working capital to stay in the business. Navosavakadua has said only help from the EU can save the industry and Bainimarama is ready to throw this away rather than allow the EU to participate as Election Observers.


Source ; Fiji Democracy Now.  Posted by Rusi Varani for SWM


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