The iTaukei Land Trust Board (TLTB) has reduced the premium rate by 35 per cent for canefarmers who want to renew their leases.
This was made known during a talanoa session with Prime Minister Voreqe Bainimarama at Tadravula in Seaqaqa, Macuata, during his northern tour last week.
Canefarmers had raised their concerns that some had to pay as much as $25,000 and $36,000 in premium to renew their leases.
The farmers said this was too expensive for them and they would have big debts if they had to pay this premium.
They asked Mr Bainimarama to reduce the premium so they could continue with cane farming.
Mr Bainimarama asked the TLTB reps to explain and clarify the matter.
A TLTB representative told the farmers that a 35 per cent reduction had been approved on the premium rate.
He added that premiums could now be paid in installments.
