A group of landowners will receive $6 million in lease payments next week in Drasa, Lautoka. This distribution is a celebration of their achievements as resource owners who have collaborated with the successful pine industry model established for them in the 1970s, according to the Fiji Pine Group of Companies.
Fiji Pine stated, “2024 has been a year of growth despite some challenges within the company as it attempts to enhance various operational areas.” The lease security bonus payments will be issued again at the company’s headquarters next Wednesday, where heads and representatives from the numerous landowning units (Mataqali) will convene to celebrate a prosperous year.
These occasions allow mataqali members to plan projects in their villages while also receiving a cheque to support these initiatives. Business opportunities for pine landowners have significantly increased, and many have benefited from these annual bonus payments.
Since 2013, lease bonus payments have opened up numerous opportunities for thousands of landowning units. Initially, the payments were modest, amounting to approximately $661,835 at $10 per hectare of pine plantations. The following year, the total reached $1 million as Fiji Pine Limited increased the payment to $15.50 per hectare.
To date, the Fiji Pine Group has distributed at least $25 million in lease security bonus payments to pine landowners.