"These defaults are in violation of the Sugar Act and Sugar Industry Agreement and have lowered growers' revenue, placing thousands of small-scale and commercial growers in danger of losing their businesses," the association said.
SA Canegrowers also said it had written to Trade and Industry Minister Ebrahim Patel to request state intervention."Even as the industry explores possible legal action, urgent action is needed to protect the industry's small-scale growers, workers, and value chain partners from financial ruin," it said.
Tongaat said it was not able to immediately comment on Monday due to other commitments of its business rescue practitioners. Tongaat produces almost half of SA's sugar and is one of the biggest employers in KwaZulu-Natal. It entered business rescue in October after lenders shot down its restructuring plan. Its business rescue plan is expected by the end of June, while it has said previously it expects binding offers in its strategic equity partner process by 26 May.
SA Canegrowers says direct employment within the sugar industry is approximately 85 000 jobs, with indirect employment estimated at 350 000. In addition, there are more than 22 000 registered cane growers, with about 1 million people, more than 2% of South Africa’s population, depending on the sugar industry for a living.In times of uncertainty you need journalism you can trust.
_Business Attach Tongaat Hulett assets 🤔
Malaysia Malaysia Latest News, Malaysia Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Threat of legal action needed to spur companies over emissions, experts sayDealing with climate change through voluntary commitments has not worked, forum told ANCParliament must wake up. If you cross the klipriver close to Vereeniging the air smells like oil, phenols and sewer etc. Where is the health department or are they working from home like the MM's
Source: BDliveSA - 🏆 12. / 63 Read more »