A new loan package has been extended to sugarcane farmers in the Northern Division.
This is through the Business Link Pacific (BLP) specialized Small Medium Enterprises (SME) initiative to help boost farmers supplementary farming and income.
This extension of the SME loan package was confirmed yesterday by the Sugar Cane Growers Fund, chief executive officer, Raj Sharma, in Labasa.
The BLP loans programme is implemented by DT Global in its capacity as Managing Contractor of the Pacific SME Finance Facility Pilot Programme.
DT Global partnered with the Sugar Cane Growers Fund to deliver funding of $625,000 FJD on behalf of the Ministry of Foreign Affairs and Trade (MFAT) under a New Zealand international aid.
The loan application opens next week.
There is a 60-month repayment period with an interest rate of five per cent.
Mr Sharma said the loan assistance would enable farmers to have start-up money available to diversify into supplementary farming.
Successfully applicants would receive funds ranging from $5000- $15,000.
The fund supported supplementary farming ventures like: ginger, turmeric, duruka, beekeeping and prawn farming.
“The Government continues to subsidise various costs for the sugarcane farmers in terms of supporting fertilisers, transportation allowance, some level of road subsidies, cane planting assistance,” Mr Sharma said.
International markets
Mr Sharma said their board had also asked them to identify markets for these products so that it does not become excessively abundant.
“We are also talking to buyers and even the people you know who can get these things across for the farmers,” he emphasized.
Divisional Agricultural Officer, Sandeep Sharma, said they would provide technical support to farmers venturing into this new supplementary integrated farming.
Mr Sharma said sugarcane production is by-far constant so moving into new forms of farming was essential.
He said turmeric farming was preferable to the Northern climate and was in demand in the United States of America.
Farmer plans to engage in turmeric farming
Kanchan Lata, said she would make an application next week when the application process opened.
She owns a six-acre sugarcane farm at Vunimoli, Labasa and is adamant to use two acres for supplementary farming.
“I have already planted some turmeric on my farm for family use, but, with this assistance, I can venture into commercial farming,” she reiterated.
If successful, Ms. Lata plans to use the loan package to improve drainage and enhance the cultivation of turmeric on my farm.
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