Farmers embrace sugarcane with bKash incentives

Sugarcane farmers associated with the Bangladesh Sugar and Food Industries Corporation (BSFIC) receive payments for sugarcane sales on time, directly into their bKash accounts.

This digital payment mechanism ensures hassle-free and accurate transfers, fostering increased farmer engagement in sugarcane cultivation. In the 2024-25 fiscal year, a significant surge in farmer participation has been observed, with an additional 15,000 farmers joining the programme, bringing the total number of beneficiaries to over 50,000. Integrating bKash payments has accelerated the overall sugarcane procurement process and increased the targets of sugar mills.

Previously, farmers were losing interest in sugarcane cultivation due to various issues, including irregular payments for sugarcane sales. To overcome this situation, in the 2023-24 fiscal year, bKash signed an agreement with BSFIC to disburse payments for farmers' sugarcane sales directly to their bKash accounts. This has enabled farmers to receive the fair price of sugarcane on time. The service also saves time, allowing the farmers to focus on producing other crops alongside sugarcane. According to sugar mill authorities, farmers' interest in sugarcane cultivation has increased due to quick payment through bKash and technological support. As a result, sugar mill authorities target 26% more payment through bKash in the 2024-25 fiscal year compared to the previous year.

Significantly, during the previous fiscal year, sugarcane farmers associated with BSFIC experienced expedited and direct payment disbursement to their bKash accounts. This facilitated the swift delivery of fair prices for their sugarcane sales. Moreover, farmers conveniently cash out their payments from nearby agent points without any charges. Complementing this, bKash has actively organised numerous training sessions and seminars to raise farmers' awareness of digital payments and financial transactions. This concerted effort has fostered incredible speed, transparency, and security within the sugarcane procurement and payment process. Furthermore, it has significantly strengthened the bond between sugarcane farmers and the corporation.