Sugarcane farmer will get a total of about $7.6 million by next Friday as the Cabinet has endorsed a special cane payment with no deductions from Government to support farmers in their preparation for the upcoming 2025 cane crushing season. Farmers will be receiving their fourth cane payment of $17.03 per tonne tomorrow, bringing the total payment for 2024 season $69.63 per tonne while a final “wash-up” payment will be made in October. The Cabinet says the 2024 crushing season faced numerous challenges including prolonged dry weather, rising production costs, labour shortages, and slow recovery from climate-related disasters.
They say these constraints directly impacted the ability of the farmers to meet production targets in 2024 and to adequately prepare for the upcoming 2025 crushing season. They say the additional $5 per tonne special payment is to allow farmers to be equipped with the necessary capital and labour before the commencement of the 2025 crushing season in early June. The Cabinet also approved the redeployment of funds within the 2024-2025 Budget amounting to $7.6 million to cater for the special cane payment by the Ministry of Multi–Ethnic Affairs and Sugar Industry.
They say the current funding provision in the Sugar Stabilisation Fund is insufficient to cover the special cane payment. The Cabinet adds savings identified under various allocations amounting to $7.6 million will be redeployed to meet the additional funding demands.
Stay tuned for the latest news on our radio stations
