Department of Agriculture: Bukidnon Farmers Will Have Credit Facility Worth of P170-M

Speaking before 15,000 participants of the 1st Mindanao Federalism Summit organized by Hugpong Federal Movement held in Cagayan de Oro, Agriculture Secretary Emmanuel Piñol bared that the Department of Agriculture (DA) has set aside P170 million worth of loans for farmers in Talakag Bukidnon.

Of the total, P150-million can be availed through Production Loan Easy Access (PLEA) facility, a special credit program designed to address financial needs of marginalized farmers for fast, convenient and affordable credit, being implemented by the Agricultural Credit Policy Council (ACPC), an attached agency of DA.

It offers non-collateralized loans for agri-fishery production through cooperative banks, cooperatives, farmers and fisherfolk organizations, non-government organizations (NGOs) as lending conduits.

Borrowers can avail up to P50,000 per household depending on the agri-fishery production project to be financed at six-percent interest rate per annum payable within a period ranging from two to 10 years.

On the other hand, the remaining P20 million is intended as start-up capital of farmers’ cooperative/association in Talakag to purchase locally-produced high-value vegetables including carrots, potatoes, cabbage, broccoli and cauliflower.

In his recent visit to farmers in Talakag, Sec. Piñol learned that a kilo of carrots costs P55 only, while for potatoes (P30), cabbage (P12 to P20) and broccoli (P50 per kilo).