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Cane price drops
THE cane payment to sugarcane farmers this year will be significantly less than last year's $88.49.
Attributing this decrease to the 30 per cent slump in the world sugar price, Fiji Sugar Corporation executive chairman Abdul Khan said last year's record payment was made possible through improvements to milling efficiency, production and favourable market conditions.
Mr Khan said farmers would have to be prepared for a lower price for last season's crop.
"I don't think the price growers receive this year will be close to last year because the global price is down by one-third," he said.
"However, in saying that, we are committed to trying to keep growers' confidence up and are working on paying a price that ensures the growers are happy and is also good for the industry."
Mr Khan said the biggest challenge for the FSC was balancing the interests of growers against unfavourable global market factors.
"The price we are receiving from Tate & Lyle Sugars is very close to the world market price and while we understand that growers want the best price for their cane, we don't have any control over this.
"Paying a high cane price against low sugar prices on the world market is a tough ask."
So far, canegrowers have received a total of $50.16 with three more payments due at the end of March, May and the final payment in October.
During the announcement of the record payment last year, Prime Minister Voreqe Bainimarama said Government was committed to maintaining a high price for growers despite the volatility of the global market.
However, during a ministerial statement in Parliament, the PM cautioned farmers about the challenges the industry faced with the impending abolition of EU sugar production quotas on September 30, 2017.
He said this adverse implication on sugar prices would affect revenue.
The PM had said EU sugar prices had already come under pressure, with significant falls compared with prevailing prices over a year ago.
Under the EU preferential pricing system, Fiji and other African Caribbean Pacific sugar-producing countries sold raw sugar for up to US22cents a pound.
Recently, this has reduced to close to the world market price of about US18cents a pound.
Dead in early morning plunge
POLICE say investigations into the death of Nadi-based lawyer David Reddy, whose partly-decomposed body was found in the Waidalice River on Tuesday, established he left Suva in the early hours of Sunday morning driving along the Kings Rd.
The car, registration LR 1709 , Reddy used was retrieved from the Waidalice River yesterday, while his body was found early Tuesday morning by Naitutu villagers Inosi Turaga and his sister Atelini Marama.
Chief intelligence and investigation ACP Henry Brown confirmed Reddy's car veered off the Waidalice Bridge and plunged into the river.
"They have managed to retrieve the car and they will take it to Korovou Police Station to examine it. Right now, the investigation is ongoing. We are not ruling out foul play and we are not saying it's a straight off the rig case," ACP Brown said.