‘Focus on Other Crops’
Anew trade support system for farmers is in the pipeline where farmers will deal directly with supermarkets, the Fiji Development Bank (FDB) has said.
Called the Agriculture Value Chain, the bank was looking into individual farmers and cooperatives.
The initiative does away with the use of middlemen.
FBD made the comments while presenting its 2020-2021 annual report to the Parliament Standing Committee on Economic Affairs. FDB chief executive officer Saud Minam said most farmers who borrowed between $10,000 to $20,000 were consistent with repayment. A new trade support system for farmers is in the pipeline where farmers would deal directly with supermarkets, not middlemen. Close to 18,000 farmers applied for assistance from FDB in the last two years.
Assistance to sugarcane farmers have dropped from 90 per cent, to almost 82 per cent in recent years, the bank revealed.
The committee suggested FDB look into non-sugar farming businesses.
“Don’t diversify from sugar; look into other opportunities,” said committee chair, and assistant minister in the Office of the Prime Minister, Sakiusa Tubuna.
The committee recommended expansion in turmeric, breadfruit and coffee farming sectors. Mr Minam said the bank had widened its scope of works in the past five years to include other crop sectors. “History has shown the focus was only on sugarcane,” he said.
“The bank also finances honey bee farming; we have a sizeable portfolio on that.”
Earlier this week, The World Bank made similar calls on the Government, where it recommended reduction in financial support for Fiji Sugar Corporation Limited (FSCL). “The Government should consider reducing existing and avoiding new guarantees and loans,” The World Bank’s Fiji Public Expenditure Report 2023, said.