The Cabinet has approved a special one-time payment of $7.66 million to assist sugarcane farmers in preparation for the 2024 crop season. This payment is part of ongoing efforts to support the agricultural community as they gear up for the upcoming cane crushing season, which begins early next month.
Farmers typically receive their earnings through five staggered payments under the Master Award, with three payments already made totaling $69.63 per tonne. The additional payment of $5 per tonne aims to provide crucial financial relief, allowing farmers to hire labor and secure necessary supplies ahead of the crushing period.
This decision comes in light of the significant challenges faced during the previous season, including prolonged dry spells, rising costs, labor shortages, and slow recovery from past disasters. These factors have placed considerable strain on farmers, many of whom have struggled to maintain their operations.
To fund this additional support for the sugarcane industry, the Cabinet has reallocated the $7.66 million from savings across different government departments, as the existing Sugar Stabilisation Fund was insufficient for this payment. The Ministry of Multi-Ethnic Affairs and Sugar Industry will oversee the disbursement of these funds.
This initiative aligns with previous government actions aimed at bolstering the sugar industry, which has experienced heightened demand for financial support amidst rising operational costs and unfavorable weather conditions. Overall, stakeholders are optimistic that this timely assistance will ease financial burdens for farmers, thereby fostering a more stable and resilient sugarcane sector.
It is encouraging to see that financial support mechanisms are being implemented to assist farmers during these challenging times, promising a more optimistic outlook for the sugar industry as it strives to overcome economic obstacles and improve sustainability.
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