Mauritius Sugar Syndicate Communiqué

1. Payment of a new Advance to Sugar Producers

The Mauritius Sugar Syndicate will pay a new advance of Rs 1,000 per metric ton of sugar to producers for the current Crop Year 2011-12 on 30 March 2012. This advance will bring the total advances for Crop Year 2011-12 at Rs 14,300 per MT of sugar for all producers (ERCP beneficiaries and other sugar producers)

2. Ex-Syndicate Price estimate No.4

At a meeting held on 27 April 2012, the MSS Main Committee has approved a new estimate (No 4) of the ex-Syndicate Price for Crop 2011.  The estimated ex-Syndicate price is now Rs 16,000 metric ton of sugar produced compared with the previous estimate of Rs 15,800 issued in December 2011.   It is to be noted that the ex-Syndicate Price is the price paid to producers prior to the deduction of the SIFB premium and does not include the contribution payable by Distillers/Bottlers as provided in the Finance Act 2010.

3. Contribution from Distiller /Bottlers – Finance Act 2010

In compliance with the provisions of the Finance Act 2010, the Distiller/Bottlers are required to remit to the Mauritius Sugar Syndicate for the account of sugar producers a contribution of Rs 20.00 per litre of absolute alcohol delivered for home consumption.

The Mauritius Sugar Syndicate has thus made on 27 December 2011, a payment of Rs 136.62 per tonne of sugar to sugar producers representing the first tranche of the contributions received by the MSS for the crop year 2011. The second tranche will be paid by the MSS in June 2012.