Tufton to meet with SCJ officials
Published:Monday | December 8, 2008 | 10:01 AM
Agriculture Minister Dr. Christopher Tufton is expected to meet with three members of the board of the Sugar Company of Jamaica (SCJ) today in relation to a botched fertiliser deal.
The meeting has been called to discuss a preliminary report into the Jamaica Cane Product Sales’ (JCPS) failed fertiliser deal with Indian company Shreeji Impex Corporation.
The agriculture minister will meet with SCJ chairman, Robert Levy and the two SCJ appointees to the board of the JCPS.
According to Dr Tufton, the management of the JCPS is completely responsible for the loss of approximately $87 million of cane farmers’ money.
With the nation facing a shortage of fertiliser earlier this year, JCPS boss Karl James was given directives to explore other sources for the product.
The board was given preliminary details on the company and a directive was given to Mr James to make further due diligence checks.
Even though no package was presented to the board, management reportedly decided to engage the company in New York without the board signing off on the deal.
After a payment was sent by wire transfer, it was learnt that the Indian company was no longer producing fertiliser.
The JCPS has since been trying unsuccessfully to recover its down payment.