The Fiji Sugar Corporation (FSC) is seeking to expand its offerings through the development of value-added products, including ethanol production, refined sugar, sustainable aviation fuel (SAF), and biomass energy, along with cogeneration initiatives. The company believes that these efforts will help reduce risks from market fluctuations and strengthen its capacity to generate stable, long-term revenue. This strategic approach aims to build a resilient and diversified business capable of thriving in an increasingly dynamic global economy.
Chairman Nitya Reddy highlighted that the corporation is engaging with international organizations and bilateral partners to seek support for upgrades to its mills, skill development, training, and to explore potential commercial joint ventures. He emphasized the urgent need for the Fiji sugar industry to regain its competitive edge in the global market, indicating that significant upgrades are needed throughout the production and manufacturing processes.
Mr. Reddy pointed out the necessity for substantial investments in technology, agricultural practices, mill operations, transportation infrastructure, and workforce training, particularly due to uncertainties regarding cane production volumes, a decrease in active growers, and declining profitability in farming.
He also mentioned that the FSC is assessing options for restructuring its mills and supporting infrastructure. He stressed the importance of carefully evaluating these decisions given their long-term implications and the extent of investments required, advising against hasty, short-term fixes that are driven by populist motives.