At the Gledhow Local Grower Counsil meeting at the Umhlali Country Club on 15 August 2016, it was confirmed that growers supplying approximatelty 1 500 000 tons of cane per annum in normal climatic conditions have concluded new long term cane supply agreements (CSAs) with Gledhow Sugar Company Pty Ltd (GSC).
Furthermore, the GSC Board unanimously approved that the first payments in terms of the CSAs were made to growers on Friday ,12 August 2016.
The realisation of this milestone in respect of guaranteeing the long term cane supply to the Gledhow Mill plays a major role in assuring the future sustainability and profitability of GSC.
The Board of Directors of GSC takes this opportunity to thank our grower partners and our shareholders for their confidence and their continued support of our partnership and for their input in achieving this important outcome.
Based on the latest Mill Group Board seasonal cane estimate, the current 2016/17 crop stands at approximately 1 200 000 tons of cane with estimated refined sugar production of about 155 000 tons. This is lower than normal due to the current drought conditions.