Thursday, September 01, 2005
Government allots funds for Minda coffee growers
Government financing institutions have earmarked credit assistance to coffee growers in Mindanao.
In the recently held Mindanao Agri-Fisheries Investment Forum, the Department of Agriculture (DA) announced that Quedancor and the Land Bank of the Philippines are offering credit assistance to coffee growers in Mindanao.
Quedancor offers P28,000 per hectare for rehabilitation and a maximum of P50,000 per farmer, while the Land Bank of the Philippines extends P45,000 per hectare for rejuvenation and P60,000 for new planting.
The DA reported that the Philippines’ consumption of coffee from 1993-1995 was 48,000 tons and reached 55,000 metric tons in 2OO4. Instant coffee is still the general preference, but there is a growing demand for the ground and brewed kind.
The DA also reported a growing interest in organic coffee.
Of the total 72,620 hectares used for coffee growing in the country, about 49,200 hectares are found in Mindanao.
If properly managed, coffee plantations can yield an average of two to three metric tons per hectare as against the current average yield of only 0.39 metric tons per hectare.
There are about 300,000 Filipinos that depend on the coffee industry for a living.
In 2004, the Philippines imported 15,057 metric tons of raw green beans, roasted beans and extracts worth $25.49 million. (Sun.Star Davao/Sunnex)
(September 1, 2005 issue)
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