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Sector can fully recover in 2 years, says CEO

Repeka Nasiko
Saturday, November 25, 2017

THE sugar industry could fully recover from the impact of Tropical Cyclone Winston within the next two years, says Fiji Sugar Corporation CEO Graham Clark.

"Sugar cane is a very resilient agricultural crop and it does recover quickly but it needs certain things," he said.

"It needs good soil, it needs water and it needs the sun but this year, we missed out on the water.

"I don't see any reason we can't bounce back from the pre-Winston years within a year or two."

He said FSC's new management team had been given two years to focus on improving the industry.

"We've got a two year focus to make sure the industry exceeds its current production and we can get 2.2 million to 2.3 million tonnes cane production.

"So we can bounce back within two years for sure."

He said good governance and cost control would assist in improving FSC operations.

"On the financial side, we are looking forward to a better year this year than last.

"We've got a bigger focus on operational issues and cost control so we are starting to see the benefits of improved management coming through.

"Our structures are leaner, our costs are getting lower and we are seeing a good cost performance relative to the budget at the moment.

"So we can reduce the operational loss year after year until such a time where we can break even which we believe we can do as we told you before when we get to 2.4 million tonnes of cane production."

FSC recorded a $39 million operational loss for the 2017 financial year.

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