FSC Forecasts $62.70 Per Tonne Sugar Price

LITIA MATHEWSELL
NADI
Fiji Sugar Corporation (FSC) Limited yesterday announced a forecast price of $62.70 per tonne of cane for the 2014 season.
A public notice from FSC confirmed that the first payment for cane would be $37.62 per tonne cane, which is 60 percent of the forecast price. It says this is under provisions of Regulation 19.2 (i) of the Master Award.
“The Corporation estimates that the likely price for 2014 season would be $73.76 per tonne cane.
“This price has been discounted by 15 percent to arrive at the forecast price to allow for possible adverse fluctuation in the key variables, as required under the Regulation 19.1 (ii) of the Master Award,” the notice said.
The Acting Sugar Industry Tribunal also yesterday announced that the crushing season would begin on June 17 at the Penang Mill in Rakiraki.
This is to be followed by the Labasa Mill on June 18 and the Rarawai Mill on June 19. The Lautoka Mill is to commence crushing on July 1.
Signed by Registrar Timothy Brown, the public notice also highlighted dates for when growers in the four respective mill areas should start harvesting and delivering their cane.
The dates are June 16 for the Penang Mill, June 17 for the Labasa Mill, June 18 for the Rarawai Mill and June 30 for the Lautoka Mill.
Sugar Cane Growers Council chief executive Sundresh Chetty said they anticipate a productive season with consistent supply.
He is urging cane growers to prepare for the impending crushing season through their memorandum of gang agreements and other necessary arrangements.
The fourth cane payment from the 2013 season is also scheduled to be paid out to farmers at the end of this month.
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