LandBank releases P1.97B to improve food supply

LandBank releases P1.97B to improve food supply

By Jennifer A. Ng, Business Mirror
Posted at 05/12/2011 7:29 AM
Updated as of 05/12/2011 11:36 AM

MANILA, Philippines - State-run Land Bank of the Philippines (LBP) released P1.97 billion for a government program meant to boost food supply by improving the technical capacity of and market access for farmers and other food producers.

LBP president and chief executive officer (CEO) Gilda E. Pico also revealed the bank will target the release of P7 billion for the Food Supply Chain Program (FSCP) this year.

“[The bank] has been taking pro-active efforts in encouraging more participants to the program. We are confident that with more key market players on board, FSCP will go a long way in fulfilling its objectives of benefiting the small farmers and fisherfolks, cooperatives and small and medium producers,” said Pico in a statement.

LBP noted that the program is aimed at “increasing farmers’ income by way of providing necessary financial and technical support along the value-added chain of a commodity or industry.” FSCP was launched in October.

So far, Pico said the program has attracted a total of 35 “anchor firms.” A total of 195 cooperatives and SME producers nationwide has formalized their participation to the program.

The 35 anchor firms - 21 from Luzon, 4 from Visayas, and 10 from Mindanao - are expected to buy the produce of the participating cooperatives and small and medium enterprises, and provide technical assistance to improve production efficiency.

The bank organized a series of island-based summits in Batangas, Pampanga, Bohol, and Davao to attract more participants to the program. It also began conducting regional “food chain forums” which aim to invite more participants to the FSCP.

Since February, regional forums covering the production, processing, and marketing of commodities including rice and corn, fruits and vegetables, fish and livestock have been conducted in 17 provinces.

Forums were held in Camarines Norte, Palawan, Rizal, Cavite, Romblon, Naga, Iloilo, Tacloban, Zamboanga, Davao, Cagayan de Oro, Isabela, Baguio, Nueva Ecija, Pampanga, Quezon, and Koronadal.

Some of the on-going FSCP projects include integrated production and processing for rice, corn, poultry, swine, and other livestocks, vegetables, sugarcane, banana cardava, and oil palm.

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