Yaqara Pastoral Pays Govt $3.5M In Dividends

FREDERICA ELBOURNE

Yaqara Pastoral Company Limited paid a dividend of $3.5 million yesterday.

Chairman and permanent for Agriculture Ritesh Dass said the pay out was for the period 2013 to 2015. Attorney-General and Minister for Economy Aiyaz Sayed-Khaiyum received the cheque at a presentation ceremony in Suva.

Mr Dass said there was untapped potential in the production and marketing of premium beef in Fiji.

Import substitution

Mr Dass said Fiji imported $18 million worth of beef per annum.

Local production of beef is around $7 million, he said.

“There is potential to drive import substitution as a first milestone.”

Mr Dass said: “After that, we can definitely tap into the Pacific region market to market Yaqara beef which is quite premium in nature.”

Expansion strategy

Yaqara Pastoral Company’s expansion strategy was in progress.

“With that, we are positive the dividend payment will continue to come, as we continue to make our contribution to the Government and the country,” he said. Mr Dass hailed management for the helping take the company to the next level.

Livestock

Yaqara Pastoral Company was opened in 1973, and has run a successful operation with livestock farming. Yaqara Pastoral Company has 6000 herds of sheep, cattle and horses, Mr Dass said.

$18 million

Fiji’s import bill on beef, against $7 million locally produced beef.

Photo: Frederica Elbourne From left: Yaqara Pastoral Company Limited’s board secretary Tuli Young, Yaqara Pastoral Company Ltd chairman and permanent sceretary for Agriculture Ritesh Dass, Attorney-General and Minister for Economy Aiyaz Sayed-Khaiyum, Yaqara Pastoral Company desk officer Ateca Rounds, Yaqara Pastoral Company Ltd’s chief executive officer Adrian Ram and company director Maciusela Lumelume.