Questions about example sentences with, and the definition and usage of "Outpay"

A: There are various words that you can add the word ‘out’ to, to mean to do something bigger or better i.e.

Outdo = to do more than someone else
Outrun = to run faster than someone else
Outsmart = to be smarter than someone else

Etc.

So, in this context it simply means that the sugar companies paid more than the tenant farmers