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6,600 Acres of Cane Replanted with Rs 377 Million in Loans Sanctioned

Recognizing the challenges faced by this sector in recent years, the Development Bank of Mauritius (DBM) has taken decisive steps to rejuvenate sugarcane cultivation through the Cane Replantation Revolving Fund. This initiative, approved by the Cabinet in November 2022, aimed at encouraging planters to renew their sugarcane crops and bring abandoned land back into productive use.

The Cane Replantation Revolving Fund offers loans at a preferential annual interest rate of 2.5% to sugarcane planters. The scheme covers 90% of the replantation or rehabilitation costs, with DBM earmarking Rs 60,000 per Arpent of land. The repayment model is structured around annual payments, with loans secured through the pledging of crop proceeds. This financial support has provided planters – whether individuals, cooperatives, or milling companies – with the necessary resources to restore idle land and rejuvenate their crops.

In 2023, DBM sanctioned Rs 377.47 million in loans, which supported the replantation of sugarcane across 6,617 acres of land. By 2024, an additional Rs 79.7 million had been approved for the planting of sugarcane on 1,340 acres. This effort has not only revitalized the industry, but also contributed to the country’s foreign exchange reserves, bringing in an additional Rs 347 million in earnings in 2023.

The Cane Replantation Revolving Fund also helps to address the issue of underutilized land, driving both agricultural productivity and the preservation of Mauritius’ farming heritage.

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