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The future of Fiji’s sugar industry does not look very promising says Reserve Bank of Fiji Governor Sada Reddy
Reddy made the comments at the 2010 Fiji Tourism Forum that is underway at the Plantation Island Resort.
“Sugar production is expected to decline further significantly this year due to continuing milling problems and drop in cane production,” he said.
“Lower cane production is due largely to very low rainfall this year while mill upgrade works have not delivered the efficiencies that were expected.”
Reddy also said that as far as inflation was concerned Fiji has seen a significant slowdown in recent months as the effects of the devaluation worked through our economy.
“The inflation rate fell to 5.4 percent in July after peaking at 10.5 percent in April,” he said.
By Maciu Bolaitamana
