A group of pine landowners in Drasa, Lautoka, is set to receive $6 million in lease payments next week. This payout is a celebration of their success as resource owners, stemming from a collaborative model developed in the 1970s, according to the Fiji Pine Group of Companies.
A statement from Fiji Pine noted, “2024 has been a year of growth despite some challenges within the company as it attempts to make improvements in many areas of operation.” The lease security bonus payments are scheduled to be distributed at the company headquarters next Wednesday, where representatives from the various landowning units (Mataqali) will gather to commemorate a successful operational year.
These gatherings are significant occasions for Mataqali members as they plan projects for their villages and receive funds to assist with these initiatives. Fiji Pine highlighted that business opportunities have flourished in villages for pine landowners, with many benefiting from the annual bonus payments.
Since 2013, lease bonus payments have opened up numerous possibilities for thousands of landowning units. Initially, the payments were modest, with a total of approximately $661,835 distributed, equating to $10 per hectare of pine plantations. In the following year, it reached the $1 million mark with a payout of $15.50 per hectare.
To date, the Fiji Pine Group has disbursed at least $25 million in lease security bonus payments to pine landowners.