CANE growers subscribed to the Green Cane Incentive program by the Sugar Cane Growers Fund will have their interest rate reduced from 3.95 per cent to 3.5 per cent.
Fund CEO Raj Sharma said the reduced rate would benefit 797 growers.
“The program was introduced in 2025, where the growers who harvest 75 percent of the total, cane green, get special discounts for the next 12 months,” said Mr Sharma.
“This reduction comes into effect from this month and will end in February next year.
“If the growers again harvest 75 percent green cane this season, they continue to enjoy the same rate for another 12 months.”
He said the loan portfolio of these growers amounted to $7.97million.
“This is 20 per cent of the total $38.91 million portfolio.”
Mr Sharma explained that all those growers under the program have been advised through text messages for the reduction.
“The impact of the reduction is around $35,865 which is part of SCGF’s Environment Social Governance framework and allows us to give back to the community.
“SCGF is giving back in excess of $1 million in various forms such has discounted fees, Mortgage Protection Covers, compared to other intuitions.”
The Fund CEO reiterated that the growers’ interest would also be at the centre of their business.
