The Fiji Sugar Corporation (FSC) is actively pursuing the development of value-added products, including ethanol, refined sugar, sustainable aviation fuel (SAF), and biomass energy and cogeneration. This initiative aims to reduce the risks associated with market fluctuations and improve revenue stability for a resilient and diversified business capable of thriving in a fast-evolving global economy.
In the FSC’s 2024 annual report, Board Chairman Nitya Reddy stated that the corporation is working with international agencies and bilateral partners to seek assistance for upgrading mills, enhancing skills, and exploring joint venture opportunities. He emphasized the urgent need for the Fiji sugar industry to regain its competitive edge in the global market, highlighting that this process will require significant investments in technology, agricultural methods, mill operations, transport infrastructure, and workforce development.
Reddy pointed out the challenges facing the industry, such as unpredictable cane production volumes, a decline in active growers, decreasing farming profits, and the pressing requirement for diversification. He mentioned that the company is evaluating its future options regarding the restructuring of mills and supporting infrastructure.
He stressed that due to the long-term effects of these decisions and the scale of necessary investments, any actions taken will be thoroughly assessed by the board in collaboration with experts and the government. Reddy cautioned against rushing into quick fixes driven by short-sighted motivations.