Sugarcane farmers are poised to reap significant benefits from a comprehensive financial relief package unveiled by Tomasi Tunabuna, the Minister for Agriculture, Waterways, and Sugar Industry, during his inaugural visit to the new Sugar Cane Growers Fund (SCGF) headquarters in Lautoka.
Set to take effect from January 1, 2026, the new measures include a reduction in interest rates on productive loans from 4.5% to 3.95%. Additionally, those growers who manage to harvest at least 75% of their cane in a green condition will qualify for an even lower rate of 3.5%. To facilitate more effective income diversification and loan management, a new Commercial Specialised Loan product has also been introduced.
In response to the financial challenges posed by recent flooding, the SCGF has enhanced its Revolving Credit Facility, allowing farmers to access funds more easily without the need for repeated loan applications. Furthermore, in collaboration with the Fiji National Provident Fund (FNPF), a Voluntary Savings Scheme will be implemented that allows for direct deductions from cane proceeds into retirement savings.
To protect farmers from unforeseen circumstances, a Mortgage Protection Insurance scheme has been established with TISA Insurance, covering outstanding SCGF loans up to $50,000 in the case of death or permanent disability, with all premiums being handled by SCGF from 2025 to 2027. Additionally, a House Fire Insurance program, launched in partnership with Sun Insurance, will safeguard the homes of growers.
There is particular attention being paid to supporting women and new entrants in the sector, with enhanced access to finance under the Women Entrepreneurs Finance Initiative (We-Fi) and continued grant opportunities of up to $7,500 through the New Farmers and Lease Premium Assistance Programme.
Minister Tunabuna expressed appreciation for the resilience of the growers following the devastating Rarawai Mill fire and the impacts of recent flooding in the Western Division. He reaffirmed the government’s commitment to enhancing drainage, flood mitigation, and farm modernization efforts to further support the agricultural community.
This relief package represents a hopeful step forward for sugarcane farmers, providing them with the tools and resources necessary to navigate challenges and thrive in their industry.
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