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Fiji Time: 10:49 AM on Friday 25 April

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EU still a key market

Felix Chaudhary
Saturday, December 14, 2013

THE EU will continue to remain a key market for our sugar, says Fiji Sugar Corporation executive chairman Abdul Khan.

This is despite the fact that the EU will abolish in 2017 the preferential quotas that allows duty free access as part of the African Caribbean Pacific group of sugar-producing countries to the European market.

Speaking to The Fiji Times after his return from attending the International Sugar Organization talks in London last week, Mr Khan said the EU offered the best opportunities in terms of price for Fiji sugar.

"One of the major critical updates that came out at the various forums at the ISO was the position being taken by various sugar producers and buyers as we approach 2017 in regards to EU sugar access," he said.

"All indications are that the EU reference price and the world market price for sugar will get a lot closer.

"This means that for us and other ACP producers, we will still have the advantage of duty free access which could still help with getting a premium for our sugar into EU.

"We are continuing to track the various potential buyers but with the world market price being significantly lower than the EU price offered to us, it is difficult to conclude any sale other than with EU buyers."