A group of landowners in Drasa, Lautoka, will receive $6 million in lease payments next week. This payout highlights their achievements as resource owners, benefiting from a successful pine industry model established in the 1970s, according to the Fiji Pine Group of Companies.
Fiji Pine stated that “2024 has been a year of growth despite some challenges within the company as it strives to enhance various operational areas.” The lease security bonus payments will be distributed once again at the company headquarters on Wednesday. Representatives from the thousands of landowning units, known as Mataqali, will gather to celebrate a successful operational year.
These events are significant as the members of Mataqali plan their projects in their respective villages and receive checks to assist with these initiatives. Business opportunities for pine landowners have increased, with many successfully utilizing these bonus payments annually.
Since 2013, lease bonus payments have facilitated numerous possibilities and business ventures for thousands of landowning units. Initially, the amount was relatively small at approximately $661,835, equating to $10 per hectare of pine plantations. The following year, payments rose to over $1 million, with Fiji Pine Limited issuing $15.50 per hectare.
To date, the Fiji Pine Group has disbursed at least $25 million in lease security bonus payments to pine landowners.