Fiji Time: 7:30 PM on Tuesday 1 December

Fiji Times Logo

/ Front page / News

EU extends sugar deal

Felix Chaudhary
Friday, February 21, 2014

FIJI has landed a sweet deal with the European Union, the major buyer of Fiji's sugar with the assuring it will continue to buy the sweetener at a lucrative price until the year 2023.

The announcement brings to an end months of uncertainty about the future of the country's sugar exports.

Late last year, Fiji was forced to find new markets for sugar after the EU announced it would end the preferential quota system enjoyed by African Caribbean Pacific sugar-producing countries.

Sugar permanent secretary Lieutenant Colonel Manasa Vaniqi said assurance had been given by the EU that Fiji would continue to enjoy selling the sweetener to the continent at a price significantly higher than the world price.

"We have received interest from China and other countries but the fact remains that the EU remains the most lucrative market for us," he said.

"Other countries or buyers will not be able to offer the price that the EU has promised us."

The EU buys our sugar at between $US0.24 and $US0.28 ($F0.45 and $F0.53) per pound. The world market price is about $US0.16 to $US0.17per ($F0.30 to $F0.32) per pound.

Lt-Col Vaniqi said the agreement to purchase sugar at the higher price would extend beyond the expiry of the preferential quotas.

"Although the existing protocol expires in 2017, Tate and Lyle will continue to buy our sugar right up to 2023.

"The EU office in Brussels has confirmed that the market will continue to be lucrative up to 2023 and Fiji will take advantage of this offer."

Fiji Times Front Page Thumbnail

Kaila Front Page ThumbnailFiji Times & Kaila Frontpage PDF Downloads

Use the free Acrobat Reader to view.

Code Inward TTs Outward TTs
CAD 0.62880.6098
JPY 58.514955.5149
GBP 0.31210.3041
EUR 0.44510.4331
NZD 0.72120.6882
AUD 0.65360.6286
USD 0.47300.4560



Exchange Rate updated on 1st December 2015

Today's Most Read Stories

  1. Horrific crime
  2. Man in the dark on police complaint
  3. Former manager, businessman front court
  4. Miss Fiji in top 10 at world pageant
  5. David and Goliath
  6. Delainamasi's best targets Flying Fijians
  7. Sexual assault against minors
  8. Talks on removal of sunken ship ongoing
  9. FSC marks success
  10. Helipad plan receives $70k boost

Top Stories this Week

  1. Left for dead Wednesday (25 Nov)
  2. MV Suilven sinks Wednesday (25 Nov)
  3. Bomb threat Monday (30 Nov)
  4. Torture suspects known to police Thursday (26 Nov)
  5. Sex assault claim Thursday (26 Nov)
  6. Father of two sent to prison Wednesday (25 Nov)
  7. Terror attack survey ranks Fiji 11th out of 21 Monday (30 Nov)
  8. Horrific crime Tuesday (01 Dec)
  9. Students drown, three dead over the weekend Monday (30 Nov)
  10. Police chief refutes report Monday (30 Nov)