Sugarcane growers in the country are expected to receive their third cane payment of $23.14 per tonne for the 2023 season on Wednesday.
The Fiji Sugar Corporation (FSC) board chairman Nitya Reddy said the third payment would bring the price paid for the season to $79.33 per tonne, with two more payments due before the end of October 2024.
He said the payment was in accordance with the provisions of the Master Award and was based on all proceeds of sale received up to and including the last day of February 2024.
“In view of the Easter holidays, the FSC board has agreed to make the payments by no later than 27 March 2024, barring any processing problems,” Mr Reddy said.
“We will ensure that the parties will have access to their funds in good time before Easter.”
He said the decision reflected the corporation’s concern on the financial difficulties of the 11,000 farmers and those who were directly and indirectly dependent on the sugar revenue.
“We will be injecting a gross amount of nearly $37.33 million into the economy next week.
“That includes nearly $ 1.1 million as production incentive payments paid to 4924 farmers whose 2023 productions increased against their 2022 crop.
“It will be paid at $5 per tonne for every additional tonne, which is the first in the history of the industry.”
