More than 150 rice farmers are set to benefit from a government grant of $150,000 allocated to Fiji Rice Limited (FRL) for rice planting in the current fiscal year. In an announcement, Fiji Rice stated that the government-subsidized rice planting initiative aims to assist farmers by covering planting expenses and boosting production.
Chairman Raj Sharma noted that this funding is anticipated to increase national rice production by 400 tonnes. He mentioned that with the current price of $1,000 per acre of rice, farmers could generate approximately $400,000.
Mr. Sharma indicated plans to revamp the business, highlighting the numerous incentives provided by the government. He revealed that next week, subsidies for fertilizers and herbicides, which were previously limited, will also be available for farmers.
He also pointed out that the price per acre was raised from $850 to $1,000 last year. According to the statement, commercial farmers can receive a maximum grant for up to seven acres, totaling $2,100, with farmers expected to cover 50 percent of the costs. Commercial farmers are defined as those who cultivate more than 20 acres of land.