JAMES HALL MBABANE – Swaziland’s top export, sugar, faces rough times with a major customer, the European Union, slashing its subsidy by 37% for the product known for 30 years as “Swazi gold.” This comes at a time when production has never been higher, keeping road transport firms busy. But the good times are ending, due also to the strong South African rand. Swazi exports are priced in rand, and more expensive Swazi sugar is less competitive in the world market. “Profits are down for the major sugar plantations and processors. There will be a shake-up in the industry,” said a spokesperson for the Swaziland Sugar Association.
