A group of landowners in Drasa, Lautoka, will receive a total of $6 million in lease payments next week. This payout signifies a celebration of their achievements as resource owners and reflects their collaboration with a successful pine industry model established for them in the 1970s, as stated by the Fiji Pine Group of Companies.
According to a statement from Fiji Pine, “2024 has been a year of growth despite some challenges within the company as it attempts to make improvements in the many areas of operation.” Lease security bonus payments will be distributed once again at the company headquarters next Wednesday, where leaders and representatives of the company’s landowning units (Mataqali) will gather to celebrate a successful operational year.
These events are significant for mataqali members as they outline their projects within their respective villages, receiving checks to aid in these initiatives. The bonus payments have opened up numerous business opportunities for pine landowners in the villages, with many taking full advantage of these annual payouts.
Since 2013, lease bonus payments have provided countless possibilities and business ventures for thousands of landowning units, according to Fiji Pine. Initially, payments were much lower, with about $661,835 distributed at a rate of $10 per hectare for pine plantations. The following year, payouts reached $1 million as Fiji Pine Limited increased the rate 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.