Bainimarama’s Coup Blamed for Sugar Industry Decline – Prasad

Finance Minister and National Federation Party (NFP) Leader Professor Biman Prasad has blamed the 2006 coup for the ongoing crisis in Fiji’s sugar industry, saying the political upheaval under former Prime Minister Voreqe Bainimarama led to years of mismanagement and decline.

Responding to National Farmers Union general secretary Mahendra Chaudhry, who criticized the Coalition Government’s handling of the sector, Prof. Prasad said the root cause of the industry’s collapse was the coup and its aftermath.

He highlighted that sugar production had already dropped significantly by 2007, with output falling from 3.2 million tonnes in 2006 to under 2 million tonnes in recent years.

He also pointed to the European Union’s withdrawal of financial support following the coup, which cut off much-needed investment in mill improvements and farm restructuring.

Despite these setbacks, Prof. Prasad reaffirmed the Coalition Government’s commitment to revitalizing the industry.

He noted that $70.1 million has been allocated to support farmers, stabilize sugar prices, and encourage continued production.

Additionally, the Government is awaiting findings from the Fiji Financial Intelligence Unit (FIU) and a Food and Agriculture Organization (FAO) study to guide future restructuring efforts.

Prof. Prasad maintained that the Coalition is focused on undoing the damage caused by the Bainimarama regime and ensuring a sustainable future for Fiji’s sugar industry.