Boosting Production: Loan Disbursement For Sugarcane Farmers Is Underway

In order to boost domestic sugar production, sugar factory owners are providing agricultural loans to the farmers according to the cultivated acreage.

Aiming at being sufficient for local consumption and extensive export, the sugar mills are being built in Sagaing Region and Shan State (North) and also agricultural loans are being provided to the farmers for the expansion of sugarcane plantations. According to the officials from Sugar and Cane Related Products Association, it is known that the factories’ owners are providing agricultural loans as well as fertilizers to the farmers.

Vice Chairman, Sugar and Cane Related Products Association, Win Htay said “If the new machineries are equipped, it’s needed to expand the new acreage of plantation. For the 2022-2023 sugarcane plantation season, the sugar factories from Shan State (North) are disbursing 200,000 kyats of per acre loan in advance for farmers. The sugarcane season scratches from December to April.  Harvesting, grinding and cultivating processes are being undertaken within these 4 months.”

Because of this loan provision, the farmers can be able to expand their cultivation and it may lead to an increase of the sugarcane yields. According to a farmer, the agricultural loan of 400,000 kyats and the fertilizers will be provided for local sugarcane farmers. 

Vice Chairman, Sugar and Cane Related Products Association, Win Htay said “As the price of sugarcane becomes attracted, the cultivation of sugarcane has been expanded. Shan State (North) sugar mills have announced that sugarcane will be purchased at 80,000 kyats per ton in the coming 2022-2023 sugarcane season. Due to higher costs of importing fertilizers from foreign countries, efforts are being made to produce fertilizers locally.”

One ton of sugarcane is set at a fixed price of 80,000 kyats in the sugar factories and the Sugar and Cane Related Products Association is helping to provide inputs for local farmers. In the 2021-2022 sugarcane season, more than 30,000 tons of sugar were exported and the sugar mills are being built in Sagaing Region and Shan State (North) to ensure sufficient domestic sugar consumption, it is learnt.