Government of the Republic of Fiji
Government of the Republic of Fiji
11/28/2024 | Press release | Distributed by Public on 11/27/2024 22:47
SUGAR INDUSTRY TO REVIVE RELATIONSHIP WITH TATE...
The Minister for Multi-Ethnic Affairs and Sugar Industry Hon. Charan Jeath Singh is currently attending the 65th International Sugar Organization (ISO) Council Meeting and 33rd ISO Seminar in London from 26th-29th November 2024.
This year's ISO Seminar theme is "Sustainable Solutions for Sugar & Energy."
At the margins of the ISO Seminar, Minister Singh met with a few international companies to discuss and strengthen Fiji Sugar Corporation's (FSC) relations in the global market.
One of the meetings was held with Tate and Lyle, a subsidiary of the American Sugar Refinery (ASR) Group. The discussions with the directors of Tate & Lyle focused on exploring global market sustainability, which is becoming a prerequisite in international markets.
The discussions carried a historical undertone, given that Tate & Lyle was Fiji's largest importer of sugar during the prime days of preferential pricing agreements with the European Union (EU).
Minister Singh acknowledged Tate & Lyle Group's fundamental role in Fiji's sugar industry, especially Fiji's benefits generated from the guaranteed market price of sugar under the EU Sugar Protocol.
During the discussion, Minister Singh highlighted Fiji's interest to reconnect and re-establish its tie with Tate & Lyle, provided the benefits of sugarcane farmers and its terms and conditions are aligned with sustainability goals.
"Tate & Lyle were once the largest importers of Fiji Sugar, back when the EU market guaranteed us favourable prices. The removal of preferential pricing was a blow, and our market share suffered as a result. Now is the time for Fiji to bounce back," said Minister Singh.
The directors gave market insights and shared plans for resilience in a competitive global sugar industry.
This year's ISO Seminar theme is "Sustainable Solutions for Sugar & Energy."
At the margins of the ISO Seminar, Minister Singh met with a few international companies to discuss and strengthen Fiji Sugar Corporation's (FSC) relations in the global market.
One of the meetings was held with Tate and Lyle, a subsidiary of the American Sugar Refinery (ASR) Group. The discussions with the directors of Tate & Lyle focused on exploring global market sustainability, which is becoming a prerequisite in international markets.
The discussions carried a historical undertone, given that Tate & Lyle was Fiji's largest importer of sugar during the prime days of preferential pricing agreements with the European Union (EU).
Minister Singh acknowledged Tate & Lyle Group's fundamental role in Fiji's sugar industry, especially Fiji's benefits generated from the guaranteed market price of sugar under the EU Sugar Protocol.
During the discussion, Minister Singh highlighted Fiji's interest to reconnect and re-establish its tie with Tate & Lyle, provided the benefits of sugarcane farmers and its terms and conditions are aligned with sustainability goals.
"Tate & Lyle were once the largest importers of Fiji Sugar, back when the EU market guaranteed us favourable prices. The removal of preferential pricing was a blow, and our market share suffered as a result. Now is the time for Fiji to bounce back," said Minister Singh.
The directors gave market insights and shared plans for resilience in a competitive global sugar industry.