NABCOR starts support mechanism to increase farmers' income
by Prix D Banzon
Davao City (13 February) -- The National Agribusiness Corporation (NABCOR) of the Department of Agriculture has started implementing in Mindanao the government's support mechanism to increase farmers' productivity and income.
Nabcor in partnership with the local government units in Zamboanga del Norte opened the P33 million Zamboanga del Norte Corn Postharvest Processing and Trading Center.
The facility is expected to raise the production of grain in the province by as much as 10 percent and farmers' incomes by 50 percent.
DA Secretary Arthur Yap reported that the facility aims to ensure a steady supply of corn even during wet season as well as provide other investment opportunities in corn production and job generation.
He said it will produce premium quality grains at 14 percent moisture content, and reduce corn drying and processing cost by at least 50 percent.
It will also help decrease postharvest losses from 15 percent to 5 percent of production and raise incomes for corn farmers by 50 percent, he added.
The project has a return investment rate of 12.5 percent for its investors, Yap said.
With regards to funding component, Nabcor provided the bulk of the funding for the construction of the center at P23 million, the provincial government of Zamboanga del Norte
had a counterpart fund of P2 million and the municipality of Sergio Osmena, where the plant is located, with P3 million. Rep. Cecilia Jalosjos Carreon contributed P5 million from the Priority Development Assistance Fund.
It may be recalled that in 2007 corn yields increased by 10.77 percent to 6.736 million metric tons with a 21.04 percent hike in total value to P65,887 billion.
The DA for 2008 is allocating P658 million for the implementation of corn productivity enhancement projects under the Ginintuang Masaganang Ani (GMA) corn program. (PIA) [top]