DOCSLIB.ORG

The Relationship Between Fiji Sugar Corporation's Profitability And

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
The Relationship Between Fiji Sugar Corporation's Profitability And THE RELATIONSHIP BETWEEN FIJI SUGAR CORPORATION’S PROFITABILITY AND SUGARCANE PRODUCTION The relationship between Fiji Sugar Corporation’s profitability and sugarcane production Biman Chand Prasad and Paresh Kumar Narayan The Fiji Government’s inability to resolve the differences Paresh Narayan is a Lecturer over land leases is widely seen as a major contributor to the in Economics in the difficulties experienced by the sugar industry. In this paper, Department of Accounting, however, a different perspective is provided on the Finance and Economics, Griffith University. industry’s problems. In examining the relationship between the profitability of the Fiji Sugar Corporation and sugarcane Biman Chand Prasad is production, it is found that profitability has had a Associate Professor and statistically significant negative effect on sugarcane Head of the Department of Economics at the University production, leading to the conclusion that the Fiji Sugar of the South Pacific. Corporation has been inefficient in the management of the mills, the rail transport system, and sugarcane research. The sugar industry has been in the vanguard Union and the United States has also been a of Fiji’s economic growth and development concern for farmers, reducing the incentive for over a century. In recent years, however, to produce sugarcane in a sustainable the industry has been declining in terms of manner. Despite the plethora of studies on both production and exports. The inability Fiji’s sugar industry, there has been no of the government to resolve the deadlock analysis of the relationship between sugar- over the renewal of land leases is widely seen cane production and the performance of the as the main source of the current problems Fiji Sugar Corporation (FSC). The FSC is in the industry (see, for instance, Prasad and responsible for the milling of the sugarcane, Tisdell 1996, Reddy and Yanagida 1998, Lal the transport system between farm and mill, 2000, Lal, Applegate and Reddy 2001, Reddy management of the sugarcane research 2001, Kurer 2001). The likely reduction of the program, and the provision of advice to preferential prices received in the European farmers through its extension services. It is 19 Pacific Economic Bulletin Volume 19 Number 2 2004 © Asia Pacific Press PACIFIC ECONOMIC BULLETIN vital, therefore, that the relationship between the role of the FSC. As a publicly owned the Fiji Sugar Corporation’s performance and monopsonist, experience in many countries sugarcane production be examined. This would suggest that the FSC would be study aims to estimate a sugarcane production inefficient in its administration and model, augmented with an ‘efficiency’ operations and extract ‘economic rents’ variable—the Corporation’s profitability—in through charging higher-than-market prices order to gauge whether it has been efficient for its services. As an institution that controls in its management and support of sugarcane most parts of the industry, it was expected to production. promote efficiency at all levels in anticipation of the reduction or even expiry of the preferential prices received for exports to the Fiji’s sugar industry European Union and the United States. We argue that one of the reasons for the Sugar contributes about 7 per cent of Fiji’s near collapse of the FSC recently is that it gross domestic product (GDP) and generates has concealed its inefficiency and mis- 22 per cent of total exports. With 85 to 90 per management and its inability to build cent of sugar production exported, sugar capacity in the industry would enable Fijian accounts for 8.5 per cent of total foreign sugar to compete internationally without earnings and generates direct and indirect price subsidies. We further posit that the employment for about 51,000 people (Fiji profits declared annually by FSC for so many 2002). years until 2000 have been at the expense of There are four sugar mills in Fiji, employ- investment to improve the efficiency of mills ing around 4,500 workers. In addition, there and of investment in sugarcane farming are between 14,300 and 15,000 cane cutters research and the transport system. Further- and about 2,000 lorry operators. In all, about more, there has been a low level of investment 25 per cent of the economically active in the mills in order to reduce environmental population in Fiji derive income from the damage. Some of the environmental problems industry. The industry’s labour force is made include solid and liquid waste management up of both family (household) and hired and odour and air pollution. Studies reveal labour. In 1975, there were 16,995 sugarcane that all the sugar mills have become more farmers. By 1998 their numbers had increased waste inefficient. The production of mill- to 22,146, with an average farm holding of mud, ash, bagasse and water use per tonne about 4.6 hectares. Area harvested increased of sugar rose to about 20 per cent between from 44,000 hectares in 1975 to a peak in 1993 1976 and 1996 (Kumar and Prasad 2004). of 75,000 hectares, before falling sharply to It is hypothesised, therefore, that there 45,000 hectares in 2000. Sugarcane production would be an inverse relationship between per hectare increased from an average of 49.1 FSC’s profits and sugarcane production. tonnes in 1975 to 59.2 tonnes in 1993, but fell If the FSC’s activities were beneficial to to 32 tonnes in 2000 (Fiji Bureau of Statistics the industry, there should be a positive 2001). association between these variables. However, Over the past five years there has been if our conjecture that the FSC has been able intense debate as to who or what is responsible to exploit its monopsonistic position to for the dire state of Fiji’s sugar industry. The extract ‘rents’ from the activities it controls inefficiency of sugarcane farming and the while undertaking these activities in an apportioning of blame to the farmers for their inefficient manner is correct, the relationship inefficiency have been at the forefront of this between FSC profits and sugarcane production debate. Often ignored, however, has been should be negative. 20 Pacific Economic Bulletin Volume 19 Number 2 2004 © Asia Pacific Press THE RELATIONSHIP BETWEEN FIJI SUGAR CORPORATION’S PROFITABILITY AND SUGARCANE PRODUCTION Model specification and data The Fiji Sugar Corporation is a government-owned organisation that took Following Narayan (2004), a Cobb-Douglas over from the colonial company, South Pacific specification for sugar production in Fiji is Sugar Mills Ltd, in 1973—three years after adopted. We use the same data set (for the Fiji’s independence. The Corporation took period 1970–2000), where the proxies used charge of the sugar industry and provided for capital are area harvested and fertiliser research and extension facilities to farmers use and the proxy for the labour force variable and became the sole buyer of sugarcane. It is the number of growers. Narayan modelled also controlled the rail system, which remains the impact on production of the price paid a major means of transporting cane to the to sugarcane farmers. We do not include mills. Like other publicly owned, monopolistic this variable because of the small sample enterprises, FSC has had no motivation to available and the limited degrees of freedom; behave efficiently, including investing in instead, consistent with our aim, we include new technology and using innovative the profits of FSC as an explanatory variable. marketing techniques. The lack of competition We also include a dummy variable to capture in the milling sector and the support of the the impact of the expiry of sugarcane land government to ensure that the mills continued leases because of the adverse impact that this operations, despite making losses, must is likely to have had. Hence, the long-run explain in large part the present sorry state model of sugarcane production takes the of the mills. following form The model is estimated using annual data between 1970 and 2000. This period and SCP =α +α AH +α LAB +α FER frequency is chosen because it provides the t 0 1 t 2 t 3 t most consistent data set available. All data (1) +α4 PROFITt +α5 LEASET+ ε t were extracted from official publications such as the Current Economic Statistics, published Here, a0 represents a constant, SCPt represents by Fiji’s Bureau of Statistics, the Reserve Bank sugarcane production (‘000 tonnes) at time of Fiji Quarterly and Fiji Sugar Corporation t, AHt represents the area harvested (‘000 annual reports. hectares) at time t, LABt represents labour force at time t, FER represents fertiliser use t Econometric estimation at time t, PROFITt represents FSC’s real profits/loss, and a0 represents the error term which satisfies the classical properties. Johansen test for cointegration Area harvested, labour force and fertiliser Tests for cointegration between variables are use are expected to contribute positively now a regular part of any econometric to sugarcane production so the a priori estimation. The concept of cointegration was α α α expectation was that 1, 2 and 3 would be pioneered by Granger (1981) and extended greater than zero. The expected sign on the by Engle and Granger (1987). It is based on profit variable is a priori ambiguous. If, for the premise that, as is common knowledge instance, it is positive it reflects the now, many economic time-series are non- FSC’s efficiency in managing production; stationary. In spite of this, an appropriate however, if it is negative it reflects the FSC’s linear combination between trending inefficiencies. Finally, we expect the expiry variables can remove the common trend of sugarcane land leases to negatively affect component. The resulting linear combinations sugarcane production. of the time-series variables will be stationary, 21 Pacific Economic Bulletin Volume 19 Number 2 2004 © Asia Pacific Press PACIFIC ECONOMIC BULLETIN implying that the relevant time-series Johansen’s approach derives maximum variables are cointegrated.
Load more

Recommended publications
  • FIJI Building Inclusive Institutions for Sustained Growth COUNTRY DIAGNOSTIC STUDY
    FIJI BUILDING INCLUSIVE InstitUTIONS foR SUstained GROWTH COUNTRY DIAGNOSTIC STUDY ASIAN DEVELOPMENT BANK FIJI BUILDING INCLUSIVE InstitUTIONS foR SUstained GROWTH COUNTRY DIAGNOSTIC STUDY Economic Research and Regional Cooperation Department November 2015 ASIAN DEVELOPMENT BANK Creative Commons Attribution 3.0 IGO license (CC BY 3.0 IGO) © 2015 Asian Development Bank 6 ADB Avenue, Mandaluyong City, 1550 Metro Manila, Philippines Tel +63 2 632 4444; Fax +63 2 636 2444 www.adb.org; openaccess.adb.org Some rights reserved. Published in 2015. Printed in the Philippines. ISBN 978-92-9257-099-6 (Print), 978-92-9257-100-9 (e-ISBN) Publication Stock No. RPT157617-2 Cataloging-In-Publication Data Asian Development Bank Fiji: Building inclusive institutions for sustained growth. Mandaluyong City, Philippines: Asian Development Bank, 2015. 1. Economic development. 2. Fiji. I. Asian Development Bank. The views expressed in this publication are those of the authors and do not necessarily reflect the views and policies of the Asian Development Bank (ADB) or its Board of Governors or the governments they represent. ADB does not guarantee the accuracy of the data included in this publication and accepts no responsibility for any consequence of their use. The mention of specific companies or products of manufacturers does not imply that they are endorsed or recommended by ADB in preference to others of a similar nature that are not mentioned. By making any designation of or reference to a particular territory or geographic area, or by using the term “country” in this document, ADB does not intend to make any judgments as to the legal or other status of any territory or area.
    [Show full text]
  • VAT-Registrant-As-At-31St-August
    TIN TAXPAYER NAME REGISTRATION 0070125412 ADILAXMI 10/Nov/00 0183020604 SUBARMANI 26/Apr/04 0505512103 06 INVESTMENT SERVICES AND CONSULTANCY 27/Mar/17 0501576608 14 TAUNOVO BAY, LLC PTE LIMITED 2/Feb/06 0505215206 180-16 SOUTH PTE LIMITED 14/Oct/14 0505801401 2 FRANGIPANIS PTE LTD 15/Mar/19 0501744403 21ST AGENCY PTE LIMITED 26/Jan/09 0501106902 231 WAIMANU RD HOLDINGS PTE LIMITED 1/Jan/99 2900090495 27 DEGREES CATERING MANAGEMENT PTE LTD . 10/Dec/19 0505273408 3 DIMENSION CONSULTANS (FIJI) PTE 9/Jan/15 0505784201 3 HUNGRY BEARS BAR & GRILL PTE LTD 24/Jan/19 0306211405 3 PIZ RESTAURANT 30/Sep/19 0306164608 3 SIXTY FASHIONS 7/Aug/17 2900081341 360 ENERGY PTE LIMITED . 20/Jan/20 0505587707 360 EVENTS (FIJI) PTE LTD 25/Oct/17 2900083334 360 SERVICES PTE LIMITED . 20/Jan/20 0505258005 3SA CARPETS PTE LIMITED 20/Sep/12 0300935105 4 U SPARES 20/Feb/09 0501412605 4 WHEEL DRIVE SALES PTE LIMITED 14/Feb/03 0501474203 44 MAGNUM PRODUCTIONS PTE LIMITED 5/May/04 0508490907 480 HOLDINGS PTE LIMITED 13/Jan/12 0501694407 4S SHOES PTE LIMITED 31/Dec/07 0505747006 5 GOLDEN CIRCLES PTE LTD 6/Sep/18 0750005403 5 M TRUST 29/Aug/05 2900112773 7 NAQURA FARM PTE LIMITED 11/Mar/20 0505861306 786 CIVIL CONTRACTORS PTE LTD 22/Oct/19 0505647809 786 HYPER MART PTE LTD 21/Nov/17 0505581804 78692 HALAAL SUPERMARKET PTE LTD 6/Oct/17 0501606206 88 BIG RESTAURANT PTE LIMITED 12/Jul/06 0505226808 88STEPS PTE LIMITED 24/Nov/14 0505321907 9 CHINA INTERNATIONAL TOURISM COMPANY 19/Jun/15 0505298409 9 CHINA GROUP COMPANY LIMITED 23/Mar/15 0505197706 99 BOUTIQUE IMPORT AND
    [Show full text]
  • Small-Farm Sugar Production in Fiji: Employment and Distribution Aspects
    CASH CROPS AND DISTRIBUTION Small-Farm Sugar Production in Fiji: EmploymeíI and Distribution Aspects' Frank Ellis The sugar industry in Fiji shows that under certain The following paragraphs examine briefly the history, circumstances export crop production can satisfy presentoperation,contractualbasis,farmsize equity criteria without sacrificing efficiency, growth, structure, employment and income aspects of the Fiji or rising real incomes. These circumstances are so sugar industry. Some of these aspects are explored in particular to Fiji and its history that it seems unlikely greater detail in Ellis (1985). that they could be replicated elsewhere. Nevertheless by identifying the factors contributing to this balance between usually opposing objectives, it is possible that History some lessons of wider applicability to agricultural export sectors can be inferred from the Fiji experience. The Fiji sugar industry began as a plantation system The main points about the Fiji sugar industry which it based on the recruitment of indentured labour from is proposed to emphasise in this short paper are: India in the period 1879 to 1916. In common with The employment intensity of the industry, linked to many such export sectors worldwide, an early process itssmall-farmstructure anditsprohibitionof of concentration led to the dominance of a single mechanical cane harvesting technology. foreignenterprise,the Colonial Sugar Refining Company (CSR) of Australia. The social stability of the industry, resulting from the predominantly leasehold basis of farm tenure and This plantation system ran into difficulties during and the contractual system for the delivery of cane to sugar after the First World War. The indenture system of mills. labour recruitment was terminated by the British The high proportion of total export revenue government in 1916.
    [Show full text]
  • The Effects of Potassium on Growth, Development, Yield and Quality of Sugarcane
    430 The Effects of Potassium on Growth, Development, Yield and Quality of Sugarcane K.F. NG KEE KWONG Sugar Industry Research Institute, Réduit, Mauritius Abstract Potassium (K) is the most abundant cation accumulating in the cell sap of sugarcane plant. A healthy sugarcane crop indeed contains generally more than 200 kg K ha–1 in its aerial parts. Though in the absence of an adequate K supply, leaf area, tiller density and number of green leaves per mother shoot may not be affected, the height of millable stalks at harvest and to a lesser degree the number of stalks may be impaired. By acting mainly as an enzyme activator in plant metabolism, K is fundamental to the synthesis and translocation of sucrose from the leaves to the storage tissues in stalks. It also plays a significant role in controlling the hydration and osmotic concentration within the stomata guard cells. Responses of sugarcane to K fertilization reflect to a large extent the available K status of soil, significant responses being obtained only in soils low in available K. Evaluating the response of sugarcane to K fertilization must also take into account the semi-perennial nature of sugarcane plant. In this context as sugarcane is able to mine the soil of its K reserves, responses to K fertilizers are frequently not observed in plant cane and often even in first and second ratoons. The importance of a balanced nutrition particularly between nitrogen (N) and K in the attainment of the maximum yield should also not be overlooked. In general sugarcane responds to K fertilizers by an increase in cane yield without any change in sucrose concentration in the cane.
    [Show full text]
  • The Politiciza Tion of Land and the Paradox of Indigenous
    UNIVERSITY OF HAWAII LIBRARY' THE POLITICIZATION OF LAND AND THE PARADOX OF INDIGENOUS OWNERSHIP: THE CASE OF FIJI A THESIS SUBMITTED TO THE GRADUATE DIVISION OF THE UNIVERSITY OF HAWAn IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE DEGREE OF MASTER OF ARTS IN POLITICAL SCIENCE AUGUST 2007 By Ponipate R. Rokolekutu Thesis Committee: Nevzat Soguk, Chairperson Hokulani Aikau Manfred Henningsen ===:-"" HAWN CB5 .H3 nO·3L\2.'Z-- We certify that we have read this thesis and that, in our opinion, it is satisfactory in scope and quality as a thesis for the degree of Master of Arts in Political Science. .. l.l- I( / AtiM.~ ~AA<" ~-l<, LW,L' K-/1c 11 Dedication To my Lord, my Mother and my Wife 111 Acknowledgements My two years as a Masters student at the University of Hawaii at Manoa have revolutionized my life in significant ways. The association and the discussions that I have had with my professors at the Political Science Department, the staff of the Pacific Islands Development Program of the East West Center (PIDP-EWC) and members of the Pan Pacific Club have been ideologically provocative and inspirational. I therefore praise the Lord God Almighty for providing me the opportunity to pursue advance education. Secondly, I would like to express my sincere gratitude and deep appreciation to Sitiveni Halapua, Director of the PIDP- EWC for inspiring me to pursue my research project on the issues relating to land, politics and race in Fiji. Thirdly, lowe a great deal of indebtedness to my supervisor, Nevzat Soguk for his insight and the quality of academic advisement that he provided in the course of writing my thesis.
    [Show full text]
  • Submission for Sugar Price Review in the Domestic Market
    Submission for Sugar Price Review in the Domestic Market 12 JUNE 2021 “Ensuring a Financially Viable FSC for Future” Table of Contents 1. Executive Summary ...................................................................................................................... 2 2 Overview ........................................................................................................................................ 4 3 Fiji Sugar Corporation – Backbone of Fiji .................................................................................. 4 3.1 History ......................................................................................................................................... 4 3.1.1 Pre-Colonial Era .................................................................................................................. 4 3.1.2 Independence and Post-Colonial Era ............................................................................... 4 3.2 Alignment of FSC’s Strategic Objectives towards National Development Plan ............... 5 3.3 Challenges ................................................................................................................................... 5 3.4 FSC Now ...................................................................................................................................... 6 3.4.1 Changes Required to Rectify the Ailing Situation .......................................................... 7 4 Importance of FSC to Fiji’s Economy ........................................................................................
    [Show full text]
  • Fiji a Transition to Manufacturing
    ReportNo. 6372-FiJ Fiji A Transitionto Manufacturing Public Disclosure Authorized November25, 1986 EastAsia PrograinsDepartment FOR OFFICIALUSE ONLY Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Documentof the WorldBank Thisdocurnmnt has a restncteddistribution and may be usedby recipients onlyin the performanceof theirofficial duties. Its contentsmay not otherwise - be disdosedwithout World Baik authorization. CURRENCYEQUIVALENTS 1985 May 1986 US$1 F$1.152 F$1.106 F$1 US$0.868 US$0.904 FISCALYEAR January1-December 31 ABBREVIATIONS ANZCERTA - TradingAgreement between Australia and New Zealand DP7 - Fiji'sSeventh Development Plan, 1976-80 DP8 - Fiji'sEighth Development Plan, 1981-85 DP9 - Fij-'sNinth DevelopmentPlan, 1986-)0 EDB - Economic Development Board EPZ - Export processing zone ERP - Effective rate of protection FGDP - Median family income in developingcountries FNTC - Fiji National Training Council FSC - Fiji Sugar Co poration FTUC - Fiji Trade Union Congress HFCS - Uigh fructose corn syrup ICA - International Coffee Agreement KORVA - KoreanTrade PromotionCorporation LOME - EEC trade conventionwith ACP countries MNC - Multinational corporation MOF - Fiji Ministry of Finance NTB - Nontariff barrier PIB - Prices and Incomes Board PJT - Price Justification Tribunal RBF - Reserve Bank of Fiji REER - Real effective exchange rate SDF - SkillsDevelopment Fund (Singapore) SPARTECA - South PacificRegional Trade and EconomicCooperation Agreement TC/TS - Tons cane/tons sugar ratio VAT - Value-added tax FOROMCIAL USE ONLY The reportwas preparedby a mission that visitedFiji during early April 1985. Missionmembers were ShahidYusuf (Mission Chief),R. Kyle Petersand VladimirKonvalov. The reportwas discussedwith the Fijian authoritiesin October 1986. This documenthas a restricteddistribution and may be usedby recipientsonly in the performance of their officialduti. Its contents may not otherwisebe disclosed without World Bank authoiation.
    [Show full text]
  • Research Note
    Financial Viability of the Fiji Sugar Corporation 287 Research Note The Financial Viability of the Fiji Sugar Corporation: An Assessment from the Corporation’s Annual Financial Reports Michael White1 Abstract This paper analyses the performance of the Fiji Sugar Corporation on the basis of its annual financial reports for the period 1997-2002. The analysis shows the following: that despite FSC undertaking an internal restructuring, there is no evidence of any material improvement in op- erating efficiency; there is no evidence of FSC having taken any ini- tiative to foster grower-miller collaboration; and that despite FSC’s calls for a renegotiation of the Master Award there is no evidence to suggest that the revision of the Master Award sought would of itself solve FSC long term financial problems. The analysis indicates that with the removal of Fiji’s access to the preferential sugar markets eq- uity holders’ interest in the corporation would be rapidly destroyed, given the industry’s current cost structure. The study also raises con- cern at the delays in the FSC taking out its annual reports. Introduction Notwithstanding Fiji sugar industry’s decline, it still generates some 7% of Fiji’s gross domestic product and 20% of the country’s export earnings (Reserve Bank of Fiji 2003). The welfare of the in- 1 I wish to acknowledge the constructive comments provided by three anonymous reviewers, to an earlier draft of the paper. Their observations have served to enhance the analysis offered. I am solely responsible for the remaining shortcomings. Fijian Studies Vol. 1 No. 2 © Fiji Institute of Applied Studies 288 Fijian Studies Vol.
    [Show full text]
  • Vol.19, Issue-1, April 2019
    Sugar production of Maharashtra at the end of 31 st March, 2019 was 104.94 lakh tons as compared to 101.27 lakh tons on corresponding period in previous year. Out of 195 operating sugar mills, 137 sugar mills Sugar crops are potential source of renewable energy, bio- fuels, bio-electricity, and bio-materials as well as a food crop were closed their crushing operations. It is expected and widely known as a source of rural livelihoods and socio- that at the end of season 2018-19, state’s sugar economic transformations. Like other industries, the sugar production will be reach around 106 lakh tons. crops and integrated industries are facing important For the 1 st time in the history of Indian Sugar Industry, sustainability issues and opportunities, owing to the increasing sugar mills have offered to supply around 51 Crore lit of concern towards their water, chemical and environmental foot ethanol produced from B heavy molasses and sugarcane print. The progressive transition from conventional sugar mill juice. This is expected to reduce around five lakh tons of and distilleries to bio-refineries coupled with climate change sugar production. Till the end of February 2019 about led to multiple problems encompassing crop vulnerability to 12 Crore lit of ethanol has been supplied from B heavy/ biotic and abiotic stress, high cost of production as well as sugarcane juice. This reduces about one lakh tons of adverse impact on environment which are serious concern. sugar production in the current season so far. Systematic efforts are underway to determine critical issues that threaten environmental and economic sustainability of A look at the events reported in this issue will once again sugar industry and green management interventions to showcase the prominent role of VSI in capacity building improve their profitability and productivity vis-à-vis a through training both domestic and International front.
    [Show full text]
  • Pacific Islands: Fiji Solomon Islands Western Samoa Vanuatu Tonga
    COUNTRY PROFILE Pacific Islands: Fiji Solomon Islands Western Samoa Vanuatu Tonga Our quarterly Country Report, Pacific Islands: Papua New Guinea, Fiji, Solomon Islands, Western Samoa, Vanuatu, Tonga, analyses current trends. This annual Country Profile provides background political and economic information about Fiji, Solomon Islands, Western Samoa, Vanuatu, Tonga and some of the smaller territories. Papua New Guinea has a separate Country Profile of its own. 1996-97 The Economist Intelligence Unit 15 Regent Street, London SW1Y 4LR United Kingdom The Economist Intelligence Unit The Economist Intelligence Unit is a specialist publisher serving companies establishing and managing operations across national borders. For over 40 years it has been a source of information on business developments, economic and political trends, government regulations and corporate practice worldwide. The EIU delivers its information in four ways: through subscription products ranging from newsletters to annual reference works; through specific research reports, whether for general release or for particular clients; through electronic publishing; and by organising conferences and roundtables. The firm is a member of The Economist Group. London New York Hong Kong The Economist Intelligence Unit The Economist Intelligence Unit The Economist Intelligence Unit 15 Regent Street The Economist Building 25/F, Dah Sing Financial Centre London 111 West 57th Street 108 Gloucester Road SW1Y 4LR New York Wanchai United Kingdom NY 10019, USA Hong Kong Tel: (44.171) 830 1000
    [Show full text]
  • Table of Contents
    Table of Contents Page List of Tables ........................................................................................................................... ix List of Figures ......................................................................................................................... xi Abbreviations and Acronyms .................................................................................................. xiii Foreword .................................................................................................................................. xv Acknowledgements ................................................................................................................. xvii Executive Summary ................................................................................................................ xix 1. Study Objectives and Background 1.1 Objectives of the study ............................................................................................. 1 1.2 Background ............................................................................................................... 1 1.2.1 Location ........................................................................................................... 1 1.2.2 Population ........................................................................................................ 1 1.2.3 Climate ............................................................................................................. 3 1.2.4 Soils, vegetation and land use .........................................................................
    [Show full text]
  • An Analysis of the Sugar Industry and Its Global Competitiveness – the Case of Fiji
    An analysis of the Sugar Industry and its global competitiveness – The case of Fiji Authors: Sandra Andersson, Tutor: Dr. Bertil Hultén Wholesale & Retail Management Dr. KL Sharma Subject: Business Administration III Hanna Jenshagen, Wholesale & Retail Management Level and semester: Bachelor thesis Minor Field Study Spring 2010 Abstract Problem of the study: The Sugar Industry in Fiji is facing a lot of problems. Since the Government of Fiji has not fulfilled their commitments to the European Union (EU), the EU has backed away from supporting the industry. The milling efficiency has been constantly declining since the mid 1980’s and farm productivities have not kept pace with the changing international market for sugar. To be able to obtain the economies of scale, the sugar production in Fiji has to increase with 75 % from the current level of production. A lot of towns in Fiji would be nothing without the Sugar Industry, and thousands of people are dependent on the industry for their sustenance. Due to this fact, it is certain that the loss of confidence in the industry, or any likely collapse, would imply disaster for Fiji as a whole. It will lead to serious implications on the economic, social and political stability of Fiji. Aim of the thesis: The overall aim of this thesis is to study the effects of the EU measures especially on the Sugar Industry in Fiji, to be able to understand to which extent the industry depends on the support from the EU. The aim is also to analyse and discuss different competition strategies on how Fiji can compete and be a part of the global market of sugar.
    [Show full text]