P91 Million available for cacao industry PDF Print E-mail
Friday, 15 September 2017 13:55

By  allen abastillas

The Land Bank of the Philippines, Zamboanga del Sur branch based in Pagadian City has allocated P91 million funds for the Cacao Industry in the different parts of Zamboanga Peninsula.

Land Bank Manager for Zamboanga Del Sur, Raphael Apostol disclosed that the funding will be released thru loan programs of the bank to the Cacao Farmers, Growers and Producers in the region.

“We are already readying the release of these loans to qualified cacao farmers who have completed the application and necessary requirements” Apostol bared.

The categories of the loan fund program are the following: Farmers who plant, produce and process their cacao beans with fermentation and transparent dryer building; Cacao growers who established a cacao nursery with the equipment and water system to grow cacao seedlings and for sale to farmers, and Cacao beans producers, not necessarily a farmer, who put-up a buying station for fresh cacao and dried beans, farmers engaged in selling in the fermentation of cacao beans and farmers who have transparent dryer for cacao beans.

Apostol also said that Land Bank solely allocated the Cacao loans program to the Cacao Industry in the region because the bank wants to help and to make the cacao industry in the region a worldclass one.

He said that Davao City is one of the leading producers of quality cacao beans which supply the world market, most especially the United States.

The Land Bank also wants to uplift the livelihood and socio-economic condition of cacao farmers, growers and producers here in Zamboanga Peninsula.

He reiterated that it is also a public knowledge that there will be a shortage of 20,000,000 million metric tons of  Cacao beans in the world market by 2020 because Indonesia and Malaysia cut-off their cacao trees and shifted to production of Palm oil.

The Africa cacao industry is also not moving forward because of the armed conflict and unstable peace and order in the area.

“Hence, we really need to help the Cacao industry in Zamboanga Peninsula since this product will be very much in demand in the world market.”

The Land Bank Manager stressed that our local cacao farmers and growers are productive and all they need is the much needed assistance from the government. (Allen Abastillas)