DA/ACPC P30K/Ha. Loan For Sorghum, Soybeans Kung gusto, maraming paraan; Kung ayaw, maraming dahilan.

Agriculture Secretary Francisco Tiu Laurel, Jr. has found a way to support the fledgling Sorghum and Soybeans production program by directing the Agricultural Credit Policy Council (ACPC) to extend production loans for an initial 4,000 hectares in Maguindanao del Norte and North Cotabato.
Sorghum and Soybeans production which I am pushing with the support of two private companies, Southseas Agri-Aqua Ventures, inc. for Sorghum and Vetmate Farma Corp. for Soybeans are not included for funding in the 2025 budget.
Following my recommendation, however, Sec. Laurel directed ACPC to include in its loaning program the two commodities which are important components in feed formulation for poultry, livestock and aquaculture.
Both Sorghum and Soybeans are imported by feed producers with imported Soybeans filling up 99.9% of the country’s requirements every year.
The loaning program amounting to P30,000 per hectare will have an annual interest of 2% while the conduit rural bank will charge 3.5% service fee.
The first 4,000 hectares which will be covered this year until early 2025 will in the towns of Datu Odin Sinsuat, North Upi and South Upi in Maguindanao del Norte while in North Cotabato it will be in the towns of Pigcawayan, Alamada, Mlang, Matalam and Kidapawan City.
The Rural Bank of Lebak will be the ACPC conduit bank which will cover the towns in Maguindanao del Norte while the Cooperative Bank of Cotabato will cover the North Cotabato area.
The loaning program will have a Buy-Back Agreement where SAAVI will buy the Sorghum grains and Vetmate Farma will buy the Soybeans, thus ensuring repayment of the loans.
The Philippine Crop Insurance Corp. will also cover all the loan beneficiaries to ensure that in case of crop failure or natural calamity, ACPC will be able to recover its loan exposure.
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