31,500 additional tons will boost Fiji exports
SUVA, Fiji (Fijilive, May 1, 2008) - The European Union has agreed to provide Fiji with an additional sugar quota allowing growers to enjoy an increase in cane payments this year, the Fiji Sugar Corporation said.
This, despite a price reduction in preferential prices by 9.2 percent in 2008, bringing total reduction by 14.3 percent from 2006.
FSC’s acting chief executive officer, Deo Saran said that instead of the usual quota of about 172,500 as per the Cotonou Agreement, EU has given Fiji an additional quota of 56,500 for this year.
As a beneficiary of the Economic Partnership Agreement, Fiji has received 31,500 tons as additional tonnage and 25,000 tons as complimentary quota for the 2008 season.
This brings the total tons for the EU market to 229,000 this season compared to 188,000 for the 2007 season.
Consequently, the 2008 season’s forecast price has increased to FJ$46.26 [US$31.05]...