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Tate & Lyle Enters Into Long-Term Agreement on the Supply of Raw Sugar with Fiji Sugar Corporation LTD

The Fiji Sugar Corporation Ltd, and Tate & Lyle has entered into a long-term agreement on the supply of raw sugar for preferential import into the European Union market. The contract for the supply of up to 300,000 tonnes of sugar per year will run until 30 September 2015. Ian Bacon, Chief Executive, Tate & Lyle, Sugars commented: “We are delighted to have concluded a new long-term contract for the supply of up to 300,000 tonnes of sugar per year from Fiji to Tate & Lyle in Europe . This is another significant step towards meeting our strategic supply objectives. “This is a positive move for our European sugar business and follows recent announcements such as the switch of the UK retail brand to Fairtrade; investment in renewable energy technology at our Thames Refinery; and investments in Lao and Italy. “We look forward to continuing to work closely with the Fijian sugar industry in the years to come.” Tate & Lyle and FSC have had long-term supply agreements since 1975 which marked the inception the ACP-EU Sugar Protocol. The Sugar Protocol will come to an end on 30 September 2009 and the preferential exports of sugar to the European Union will be governed by the provisions of the Economic Partnership Agreement between Fiji and the European Union.