Over 150 rice farmers are set to receive support from a $150,000 government grant designated for Fiji Rice Limited (FRL) aimed at boosting rice production during the current financial year.
In an announcement, Fiji Rice outlined that this government-subsidized rice planting initiative is designed to assist rice farmers by offsetting planting expenses and enhancing overall output.
Chairman Raj Sharma indicated that the funding could potentially raise national rice production by an additional 400 tonnes. He noted that with the current planting cost of $1,000 per acre, farmers could generate nearly $400,000 in revenue.
Sharma mentioned efforts to revamp the business, stating that the government is introducing several incentives, including subsidies for fertilizer and herbicides, which were either previously unavailable or provided in limited quantities. He also highlighted that the price per acre was raised from $850 to $1,000 last year.
According to the statement, commercial farmers will be eligible for a maximum grant covering seven acres, totaling $2,100, with a requirement to match 50 percent of the overall costs. Commercial farmers are defined as those who cultivate more than 20 acres of land.