GIS - 04 July, 2014: Despite the various daunting challenges that the sugarcane sector have been facing during the recent years, Government has since come forward with various schemes to ensure that this sector remains viable and resilient. Government understands the importance of the role that the small and medium planters and that is why new schemes have been put in place to ensure that they remain socioeconomically viable.
This statement was made yesterday by the Minister of Agro-Industry and Food Security and Attorney General, Mr S. Faugoo, during the launching ceremony of the 80% Advance to Small and Medium Sugarcane Planters at the Sir Harilall Vaghjee Hall, in Port Louis.
This advance would assist sugarcane planters in their procurement and use of fertilizers for their crop and concerns some 17 000 planters. This advance has not only enable sugarcane planters to obtain adequate funds to take care of their cultivation, but has also eased their liquidity problem, thereby enabling them to benefit from cheaper rates of interest than they would have paid otherwise underlined Minister Faugoo.
Through the Economic Restructuring and Competitiveness Programme, Government has put at the disposal of the Mauritius Sugar Syndicate (MSS) a line of credit of Rs 1.5 billion from the Bank of Mauritius to increase the amount of its usual advance payment to planters to 80% of the estimated net ex-MSS price as from delivery of their first sugar consignment.
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