A group of landowners in Drasa, Lautoka, is set to receive $6 million in lease payments next week. This payout symbolizes their success as resource owners, collaborating with a pine industry model established for them in the 1970s, according to the Fiji Pine Group of Companies.
Fiji Pine stated that “2024 has been a year of growth despite facing some challenges as the company strives to enhance its operations.” The lease security bonus payments will be distributed at the company headquarters next Wednesday, where representatives from the many landowning units (Mataqali) will convene to celebrate a successful operational year.
These events are significant as Mataqali members plan various projects in their villages, receiving cheques to assist with their initiatives. Business opportunities have flourished in villages for pine landowners, who have consistently capitalized on these annual bonus payments.
Since 2013, lease bonus payments have opened up numerous possibilities and business ventures for thousands of landowning units. Initially, the payments were modest, totaling around $661,835 for $10 per hectare of pine plantations. The following year, payments increased to $1 million when Fiji Pine Limited distributed $15.50 per hectare.
To date, the Fiji Pine Group has disbursed over $25 million in lease security bonus payments to pine landowners.
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