25 Sep

10 farmers’ cooperatives sign loan contracts with prov’l gov’t

first_img* San Julian Multipurpose Cooperative inBadiangan – P5 million The contract signing was done yesterdayafternoon. Under this loan program – with a two percentinterest per annum and payable in three years – of the provincial governmentdubbed Mangungoma Sapnayon: Palay PriceProcurement Program, farmers’ cooperatives must buy palay (unhusked rice) from small farmers at premium prices. * Southern Iloilo Area MultipurposeCooperative in Oton – P10 million * Pototan Farmers Multipurpose Cooperative –P10 million According to Atty. Arturo Cangrejo, chief ofthe Provincial Cooperative Development Office, the loanable amount wasdetermined based on the cooperatives capacity to pay and drying facilities. “The first amortization of these cooperatives would start 15 monthsafter the loan’s release. Buot silingonsubra isa tuig anay nga i-rolling sangkooperatiba ang ila pundo para maka-gainincome kag amat-amat sila nga magabayad,” said Cangrejo. * Barotac Nuevo Development Cooperative – P5million * Dingle Multipurpose Cooperative – P10million * Kooperatiba Naton Multipurpose Cooperative inTigbauan – P5 million * Zarraga Multipurpose Cooperative – P5million * Guintapagin Agrarian Reform Cooperative inBingawan – P1 million * Santa Barbara (FACOMA) MultipurposeCooperative – P5 million The 10 cooperatives and their loans are thefollowing: ILOILO – Ten farmers’ cooperatives areavailing themselves of loans from the provincial government to help smallfarmers reeling from the nose-diving of rice prices that is being blamed on theRice Tariffication Law. * Kabalikat Multipurpose Cooperative inBingawan – P1 million As agreed with the provincial government, thecooperatives would procure palay fromsmall farmers at P14 per kilo./PNlast_img read more