Yaqara lease to boost cattle farming

Cattle farming for local consumption is expected to get a boost once paperwork for lease of Yaqara is complete by the end of the year.

California-based cattle ranch operator, Rolls International/Harris Ranch, won the bid ahead of three other tenders earlier this year to take over Yaqara Pastoral Company Limited, a company listed on the Suva Stock Exchange.

The two American companies would lease the Yaqara farm as part of a private and public partnership in an effort to boost cattle farming for local consumption.

Yaqara Pastoral Company yesterday issued its first dividend cheque of F$245,000.00 to Government. The dividend payout was possible due to favourable weather conditions and an increase in royalty from Fiji Water which drills for water on Yaqara land.

The dividend payout was 50% of the company's after tax profits.

With the input expected from the American companies, investors in this company should look forward to good returns as the company benefits from the lessee' expertise.