Fiji Rice receives budget increase

July 11, 2024 6:06 am

Opposition Leader Inia Seruiratu [Source: Parliament of Fiji/ Facebook]

Opposition Leader Inia Seruiratu raised concerns during the debate on the 2024-2025 Appropriation Bill regarding specific budget allocations for Fiji Rice Limited and Food Processes.

He emphasized the importance of targeting these allocations to benefit rural farmers.

Fiji Rice Limited is set to receive $1.4 million, aimed at supporting the purchase of paddy at prices ranging from $750 to $850 per tonne.

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A sum of $287,000 is allocated for fertilizer and weedicide subsidies directly benefiting farmers.

Assistant Minister at the Office of the Prime Minister Sakiusa Tubuna says these measures are designed to enhance efficiency in supporting local farmers through direct assistance to Fiji Rice Limited.

“Subsidy will help the company by procuring larger agricultural produce to meet the demands of its products and market.”

Meanwhile, Food Processes will receive $1 million, a reduction from last year’s $2 million allocation.

This adjustment, according to Finance Minister Professor Biman Prasad aligns with spending trends and ensures funds are used effectively.

The subsidy for Food Processes aims to boost production and sourcing of agricultural and marine products from rural and maritime areas, facilitating both local consumption and exports.