New incentive to transform sugarcane farming
The Ministry of Sugar Industry and Sugarcane Growers Fund have launched the Green Cane Incentive Program to promote sustainable sugarcane farming practices. The program incentivizes farmers to reduce burnt cane and harvest green cane, offering a 2% interest rate reduction (from 6% to 4%) for those harvesting 75% or more green cane. This initiative aligns with national green financing efforts and the Sustainable Development Goals, providing financial relief and supporting eco-friendly practices. Minister Charan Jeath Singh emphasizes the program’s importance in addressing environmental challenges and encouraging sustainable farming methods.
A Green Cane Incentive Program has been launched aimed at revolutionizing sugarcane practices nationwide.
The program has been launched by the Ministry of Sugar Industry with the Sugarcane Growers Fund.
It is developed in partnership with the SCGF and seeks to incentivize farmers who adopt sustainable farming practices, particularly focusing on the reduction of burnt cane.
Minister Charan Jeath Singh says this initiative is important in tackling environmental challenges posed by the burning of sugarcane which affects farms and cane production.
Singh says this program will encourage farmers to harvest green cane.
It also underlines the government’s efforts to lower carbon footprints, national green financing initiatives in line with the Sustainable Development Goals.
The Incentive program offers significant benefits to farmers enrolled in the Specialized Loan program under SCGF.
Farmers who harvest 75% or more of green cane will receive a two percent reduction in their interest rate for the next 12 months.
This reduction lowers their interest rate from 6% to 4%, providing tangible financial relief and support for sustainable farming practices.
Source Link : https://www.fbcnews.com.fj/business/new-incentive-to-transform-sugarcane-farming/
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