Credit plan for tomato farmers launched

In line with the intensified efforts to create jobs especially in the agriculture sector, President Arroyo has instructed the Department of Agriculture, through its credit arm, the Quedan and Rural Credit Guarantee Corp., to craft viable programs for farmers and growers of high value crops.

In answer to this call, Quedancor on Monday will launch a new program that aims to provide crucial credit to tomato farmers. Launching ceremonies will be led by Agriculture Secretary Luis P. Lorenzo Jr. at the sprawling Northern Foods Corp. (NFC) compound in Sarrat, Ilocos Norte NFC is one of the largest tomato paste canning factories in the country.

The program launching, which will be highlighted by the awarding of loan checks ot the initial batch of tomato farmers will be led by Lorenzo who will also deliver the keynote address. The new credit program provides purchase orders to farmers for their farm input needs, however there is a cash portion loaned to the borrowers for farm activities like land preparation and cultivation. This cash portion amounting to over P50,000 will be distributed to the first five groups consisting of 21 individual farmer-borrowers during the occasion.

The program targets to serve the credit requirements of 4,000 fasrmers tilling 1,000 hectares of tomato farms in Ilocos Norte.