FIJI?S MOLASSES FINDS NEW MARKET IN ASIA

Molasses produced by the Fiji Sugar Corporation (FSC) has new market in Asia with the first shipment already sent through the United Molasses.

FSC executive chairman Abdul Khan said the new market has fetched better price for the corporation earned from molasses export.

?We are getting better price for our molasses and we are earning around an extra US$8 (FJD$15.35) – US$10 (FJD$19.19) per tonne from our shipments to Asia,? Mr Khan said.

?We have already sent one shipment and another shipment of 35, 000 tonnes will be leaving our shores later this month (October).?

FSC and ultimately sugarcane farmers stand to benefit from the sale of molasses at a higher price meaning a financial windfall for the country’s 15,000 growers.

In compliance with the Sugar Master Award, 70 per cent of all proceeds from sugar processing after deducting industry cost will go to the growers.

FSC earned close to $10 million from molasses sales in 2011 and Mr Khan said molasses sales continued to be a lucrative by-product of sugarcane processing.

Apart from international sales, the country’s biggest brewery Carlton Brewery and so is Rewa Dairy Co ? operative that uses molasses as a supplement in cattle feed.

MINFO