Business

Sugar industry gets boost with termite loan package

December 19, 2024 6:08 am

The sugar industry received a timely boost yesterday with the launch of the Termite Loan Package by the Sugar Cane Growers Fund.

The initiative, one of many implemented by the fund this year, aims to help cane farmers recover from damages caused by termite infestations.

Minister for Women, Children, and Social Protection, Sashi Kiran, while officiating at the launch in Lautoka, commended the Fund for their vision, emphasizing that timely interventions can address the termite issue.

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“Infestation from Asian Subterranean Termites has been allowed to grow unchecked over the past decade and has caused substantial damage to properties in the Western and Northern Divisions, and a lot of our sugarcane farmers are affected. The presence of AST remains significant in major hotspot areas like Lautoka, Nadi, and Labasa, and more recently we’ve been receiving reports from emerging areas like Tavua, Rakiraki, and Nakasi.”

While reaffirming the government’s commitment to swiftly handling this issue, Kiran reminded those at the launch about the allocation of approximately two million dollars for the Termite Control Assistance Program in the 2024-25 budget.

“I command the Fiji Sugarcane Growers Fund to offer a special loan package, the Termite Loan Package, at an interest rate of 2.99% for 12 months and 4.5% as a variable rate for replacement or repair of structures damaged through termite. The loan limit is from $1,000 to $30,000, and growers who have longer lease terms can access loans up to $50,000.”

To access the loan, farmers are required to obtain a certificate from the Biosecurity Authority of Fiji.