New graduates urged to go into agribusiness

Sen. Ramon Magsaysay Jr. urged new agriculture graduates to participate in the young Farmers Program (YFP), which could be their gateway to a successful and profitable agriculture-related business.

"Rather than joining the ranks of some 2.8 million jobseekers, which will further swell with the graduation of some 448,000 college students this year, participating in the YFP is a better alternative," Magsaysay said.

The YFP, which was introduced by Magsaysay two years ago, encourages young graduates of agriculture-related courses, as well as budding entrepreneurs who are 21-39 years old to engage in agribusiness and become successful entrepreneurs. The program has an initial funding of P30 million being distributed as grants to participants to augment their operating capital.

Under the program, the government is committed to help participating entrepreneurs to secure loan representing 60 percent of the total capital needed for their proposed agribusiness project. The 25 percent of their needed capital would be provided as grant by the program, while the remaining 15 percent has to be raised by the proponent as equity.

The program has so far trained some 120 participants and 38 of them have started to operate their respective agribusiness venture after their loans and grants have been released. Some have already started harvesting and marketing their farm produce.

These young farmers-entrepreneurs are undertaking various projects such as coconut coir and coco peat production, tilapia production, duck raising, cattle fattening, broiler production, production of export quality peanut, papaya and mango production and other value-adding activities for agriculture and fisheries products.

"The remarkable development in agriculture, especially the extension of funding support for the implementation of the Agriculture and Fisheries Modernization Act (AFMA) until 2015, would bring about bright prospects to the agriculture sector and make agribusiness a profitable venture, that is why we are encouraging the youth to participate in the YFP," Magsaysay said.

"We are committed to fund projects from a minimum of P50,000 to a maximum of P300,000 capitalization. More loans and grants would be released soon for approved projects as we need to fully implement the program in order to address the unemployment problem and to assist fresh graduates in putting up their own business," he added.

The YFP is now accepting project proposal of applicants who would be included in the fifth batch of trainees who will undergo extensive training on business management.

Those who wish to participate in the YFP can contact Mrs. Virgie Agcopra or Mr. Larry Villanueva at tel. Nos. 551-3253 or 552-6601 locals 5501 and 5512.