SUNBIZ

Sugar Brokers Engaged By FSC

The Fiji Sugar Corporation has engaged the services of an international renowned sugar brokers firm for the marketing of the country’s sugar. International sugar brokers, Czanikow, based in London, have
27 Jan 2017 11:17
Sugar Brokers Engaged By FSC
FSC

The Fiji Sugar Corporation has engaged the services of an international renowned sugar brokers firm for the marketing of the country’s sugar.

International sugar brokers, Czanikow, based in London, have been tasked to market Fiji’s sugar.

The FSC has done this to cushion the impact of the sugar reforms being undertaken by the European Union.

The EU has undertaken major sugar reforms since 2009.

FSC chairman, Vishnu Mohan, in a press conference indicated further reforms were still on the table.

“Further reforms will be carried out on October 1st, 2017, when the Economic Partnership Agreement (EPA) will be abolished.”

With this happening, Mr Mohan said Fiji would now have to compete in open market to sell sugar.

“FSC has taken measures to mitigate the negative impacts of the reforms,” he said.

“It has engaged international sugar brokers Czanikow, based in London with offices in Singapore, and United Molasses, based in USA, to market Fiji’s sugar and molasses.”

Internally, Fiji’s sugar industry has also undertaken internal reforms to restructure the institutions.

Mr Mohan said this included bringing changes to the boards of FSC, Sugar Cane Growers Fund and the South Pacific Fertilisers Limited, which he added would bring efficiency within the sugar industry.

Edited by: KATHRIN KRISHNA

Feedback:  charles.chambers@fijisun.com.fj

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