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SCGF Loans $8.491m

Sugar Cane Growers Fund (SCGF) in the last 10 months ending 31st October 2022 has processed 2095 applications totalling $8.491m, compared to 2049 applications worth $7.481m for the same period last year. This is an increase of 13 percent, said the Chief Executive Officer Mr Raj Sharma. He said most of the request were from Labasa area (24%), Ba (22%), Lautoka and Seaqaqa (12%), Rakiraki (10%), Nadi (9%), Tavua (6%) and Sigatoka (5%). Labasa has the highest demand as there is no major alternative and after TC Yasa, number of growers have gone back for either rehabilitation or investment loans. Ba also is predominately good production area and has good number of growers, said Mr Sharma.

Majority of the loans have been for investment- purchase of farms and equipment, and or improvement of the farm and farm houses. Mr Sharma advised that they are also receiving loan applications on the digital platform and so far 45 applications worth $0.330m.

SCGF holds 55 % of the sugar cane loan market share and 11% of the agriculture loans, with its total loan portfolio of $29.317m for over 5400 cane growers.