Almost half of the loans allocated to agricultural Micro, Small, and Medium Enterprises (MSMEs) in Fiji have been funneled into sugarcane farming, a move intended to enhance agricultural frameworks and improve the livelihoods of those involved in this sector. However, persistent challenges within the sugar industry have led the MSME Council to call for an expansion of financial support to include a wider array of agricultural activities beyond sugarcane.
Watisoni Nata, the Council Chair, is advocating for legislative reforms that would simplify business operations and boost overall growth within the industry. He highlighted the importance of addressing existing barriers and expressed a commitment to pushing for incentives that encourage diversification into areas such as organic farming, fisheries, and agritech.
The difficulties faced by Fiji’s sugar industry have been underscored by stakeholders, including Deputy Prime Minister Manoa Kamikamica. He has recognized that the upcoming budget from the ministry will focus on bolstering the MSME sector, with an ambitious goal of increasing its contribution to Fiji’s GDP from 18% to 30% within the next five to ten years. This goal emphasizes the necessity for comprehensive policies and strategic guidance.
Previous reports have documented a significant decrease in sugar production, which has plummeted to around 1.6 million tonnes, compared to a high of 3.2 million tonnes in 2006. Minister for Sugar, Charan Jeath Singh, has voiced worries regarding the industry’s sustainability under current conditions. Despite government initiatives, the sugar sector faces hurdles from a shrinking pool of active farmers and outdated methods, indicating a pressing need for modernization and diversification in agricultural practices.
In light of these issues, there remains a growing optimism about initiatives aimed at revitalizing the sugar industry and empowering MSMEs to explore alternative agricultural sectors. With targeted efforts directed at diversification, financial literacy, and regulatory enhancements, Fiji has significant potential to cultivate a more robust agricultural landscape that supports the livelihoods of numerous families while contributing positively to the national economy.
Leave a comment