GIS - 11 December, 2018: An additional financial support of Rs 257 per ton of sugarcane will be provided to planters producing up to 60 tonnes of sugar for the 2018 Crop, announced the Minister of Agro-Industry and Food Security, Mr Mahen Seeruttun, during a press conference yesterday at the Headquarters of the Ministry in Port Louis.
The Minister highlighted that the small planters benefitting from this additional financial support will therefore receive, in aggregate, a revenue of Rs 1 500 per ton of sugarcane as compared to Rs 1 243 previously. This, he stated, is equivalent to Rs 19 200 per ton of sugar from all revenue sources, which comprise remuneration from bagasse and molasses, waiving of CESS contribution and insurance premium, and other support measures.
According to Mr Seeruttun, the financial support represents a total additional revenue of Rs 3 287 per ton of sugar over and above the revenue of Rs 15 913 agreed in September this year. Some Rs 165 million have been earmarked by Government for the implementation of this measure, he indicated, and finance will be available from different funds.
Furthermore, the Agro-Industry Minister pointed out that Government will continue to explore new markets for sugar, in particular special sugars, with remunerative prices. After protracted negotiations with the Chinese authorities under the Mauritius China Free Trade Agreement, Mauritius has managed to obtain a tariff rate quota of 50 000 tons of special sugars, he added.
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