A group of landowners in Drasa, Lautoka, will be receiving $6 million in lease payments next week. This financial distribution highlights their achievement as resource owners who have partnered with a successful pine industry model established in the 1970s, according to the Fiji Pine Group of Companies.
Fiji Pine noted that “2024 has been a year of growth despite facing some challenges within the company as it seeks to enhance its operations.” The lease security bonus payments will be distributed again from the company headquarters on Wednesday, where leaders and representatives from the thousands of landowning units (Mataqali) will come together to celebrate a successful year.
These gatherings are significant occasions for Mataqali members as they plan various projects for their villages and receive checks to support these initiatives. The bonus payments have opened up substantial business opportunities for pine landowners, many of whom have benefited from this financial assistance annually.
Since the inception of lease bonus payments in 2013, countless landowning units have explored new possibilities and business ventures, with initial amounts being considerably smaller—around $661,835 for $10 per hectare of pine plantations. The following year, payments surged past $1 million when Fiji Pine Limited offered $15.50 per hectare.
So far, the Fiji Pine Group has distributed over $25 million in lease security bonus payments to pine landowners.