Business

New incentive to transform sugarcane farming

July 18, 2024 5:54 am

[Source: Ministry of Multi-Ethnic Affairs & Sugar Industry-Fiji/ Facebook]

A Green Cane Incentive Program has been launched aimed at revolutionizing sugarcane practices nationwide.

The program has been launched by the Ministry of Sugar Industry with the Sugarcane Growers Fund.

It is developed in partnership with the SCGF and seeks to incentivize farmers who adopt sustainable farming practices, particularly focusing on the reduction of burnt cane.

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Minister Charan Jeath Singh says this initiative is important in tackling environmental challenges posed by the burning of sugarcane which affects farms and cane production.

Singh says this program will encourage farmers to harvest green cane.

It also underlines the government’s efforts to lower carbon footprints, national green financing initiatives in line with the Sustainable Development Goals.

The Incentive program offers significant benefits to farmers enrolled in the Specialized Loan program under SCGF.

Farmers who harvest 75% or more of green cane will receive a two percent reduction in their interest rate for the next 12 months.

This reduction lowers their interest rate from 6% to 4%, providing tangible financial relief and support for sustainable farming practices.