Charan Jeath Singh, the Minister for Multi-Ethnic Affairs and Sugar Industry, is currently participating in the 65th International Sugar Organization (ISO) Council Meeting and the 33rd ISO Seminar taking place in London. This event presents a significant opportunity for Fiji to enhance its position in the global sugar market.
While attending the seminar, Singh engaged with various international companies, focusing on fortifying the ties between the Fiji Sugar Corporation (FSC) and global stakeholders. Notably, he held discussions with Tate and Lyle, a prominent subsidiary of the American Sugar Refinery (ASR) Group. The conversation centered on the importance of sustainability in the global sugar market, a growing necessity for continued competitiveness.
Singh reflected on the historical significance of Tate & Lyle, recalling the days when the company was Fiji’s largest sugar importer under the previous preferential pricing agreements with the European Union (EU). Highlighting the critical role of Tate & Lyle in the past, he acknowledged the benefits that came from fixed market prices under the EU Sugar Protocol.
In the discussions, Singh expressed Fiji’s desire to reconnect with Tate & Lyle, emphasizing that any re-establishment of ties would hinge on the alignment of terms that benefit local sugarcane farmers and meet sustainability objectives. “Tate & Lyle were once our largest buyers during a time when we enjoyed favored market prices. With the recent challenges, it’s essential for Fiji to strategize for a resurgence,” Singh remarked.
The directors of Tate & Lyle shared valuable insights into market trends and resilience strategies for navigating the competitive sugar landscape. Importantly, this year’s ISO Seminar is centered around “Sustainable Solutions for Sugar & Energy,” reinforcing the industry’s commitment to eco-friendly practices.
In summary, Minister Singh’s participation in the ISO Seminar underscores a proactive approach to re-establishing Fiji’s presence in the global sugar market, especially with a focus on sustainability. This engagement could be a vital step towards reviving and bolstering Fiji’s sugar industry in the international arena. As countries increasingly prioritize sustainability, Fiji’s shift toward this new paradigm can potentially open new doors for partnerships and growth.
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