4 Nov 2010

Fiji dairy company sees a drop in sales

11:34 am on 4 November 2010

The Rewa Dairy Cooperative Company in Fiji has recorded a 16 per cent decline in sales from 25 million US dollars to 22 million US dollars.

The company's chief executive, Ratu Savenaca Seniloli, said this underscored the extent of the co-op's drop in business in his 2009 annual report which was released last week.

Ratu Savenaca said that even though the international dairy prices had weakened in 2008 with huge stocks available flowing on to 2009, Rewa Dairy could not maximise on the opportunity due to the weaker Fiji dollar.

But the Fiji Times Online reports by the last quarter of 2009, the global demand for dairy grew and prices rose again affecting one third of Rewa Dairy's imports.