South Africa is planning out a strategy to boost the struggling sugar industry that is reeling under financial crisis.
The industry generates revenue worth R14bn per year and provides jobs to around 3, 50,000 persons.
The sector has faced severe challenges including a drop in sales due to hike in sugar tax, falling prices and sugar import from Brazil at a cheap rate.
Replying to a query in Parliament session on Tuesday, Ebrahim Patel, trade, industry and competition minister said that the government is working to stabilize the sugar sector and will soon unveil a master plan for the same.
According to the media report, Patel said the government and key industry stakeholders, including local food and beverage producers, have agreed to prioritise local sugar players.
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