Sugar Cane Fund’s New Strategies Promise Hope for Fiji’s Farmers

Raj Sharma, CEO of the Sugar Cane Growers Fund, disclosed that the fund’s loan portfolios currently total approximately $33 million, primarily sourced from around 4,600 registered cane farmers in Fiji. In a recent interview with The Fiji Times, Sharma highlighted the diverse demographics of these farmers, noting that while the majority are aged between 35 and 55, there are some as old as 100.

Of the total loans, about $4 million is allocated to corporate loans, with 60% of the portfolio backed by the cane industry itself. Notably, the gender disparity in farming is evident, as men make up 92% of the farmer demographic, while women account for only 8%.

Sharma detailed the geographical distribution of the loans, revealing that 33% are concentrated in the Northern Division, with the remaining 66% located in the Western Division, including important regions such as Labasa and Ba. The fund’s core business revolves around lending, which generates an annual interest income of roughly $1.6 million. Operational costs are estimated between $1.3 million and $1.4 million, primarily covering staffing and office expenses.

In addition to the current financial landscape, Sharma discussed initiatives aimed at enhancing loan management within the industry. A recent measure allows for the deferment of loan repayments, providing necessary relief for farmers and promoting responsible financial practices during tough economic periods. This engagement between the Sugar Cane Growers Fund and various stakeholders, including the government, reflects a robust commitment to fostering financial stability and sustainability among cane farmers.

These initiatives align with a broader strategy to support the sugar industry’s resilience in Fiji. By encouraging healthier financial habits among farmers, the fund is setting the stage for greater productivity and economic stability within the sector. Overall, this approach suggests a hopeful future for sugarcane farming in Fiji, underlining the fund’s dedication to improving the financial well-being of farmers and ensuring the industry’s longevity amid challenges.