Sun | Aug 20, 2017

Government gives some cane farmers debt write-off

Published:Friday | November 13, 2015 | 11:26 AM

The Government is to give a debt write-off to cane farmers who have been hit hard by adverse conditions in the agriculture sector.

Agriculture Minister, Derrick Kellier, says given the impact of the drought over the last two years, the Government has taken a decision to only recover 80 per cent on loans granted to farmers under the Cane Expansion Fund.

Kellier says the debt forgiveness will apply to loan re-payments due from farmers this year.

He said he has directed that no further payments should be taken from farmers who have already repaid at least 80 per cent of their loans.

The agriculture minister says the helping hand comes as some farmers were expected to make final payments this week.

The agriculture ministry says the aim is to allow cane farmers to finance input costs associated with production related to next year’s crop season.

Kellier was speaking yesterday at the Annual General Meeting of the All-Island Jamaica Cane Farmers’ Association.