NAGA CITY – Agriculture Secretary Emmanuel Piñol has finalized the guidelines of the Hybrid Rice Credit Assistance Program where rice farmers can choose from four (4) loaning schemes. This was bared by Rodel Tornilla, DA OIC RTD for Operations and Extension and Regional Rice Program Coordinator during the Orientation/Briefing on Credit Assistance for Hybrid Rice Production Project held in this city October 9.
Over 150 rice stakeholders from the six provinces of the region, composed of chairpersons of cooperative recipients of Rice Processing Centers; presidents of irrigators associations; provincial and municipal rice coordinators; rice seed growers; heads of DA attached agencies; representatives from hybrid rice seed companies; provincial and municipal agriculturists; and Agricultural Extension Workers, attended the briefing.
The project shall cover 600,000 hectares for the planting of hybrid rice seeds for 2017-2018 dry cropping season and shall be continuously pursued in the succeeding cropping season. This public-private partnership will mainstream credit assistance to support the financial requirement of rice farmers. The loanable amount is P15,000 per hectare to cover the cost of seeds and fertilizer and farmers can avail loan for up to 3 hectares or equivalent to P50,000 which is payable in two years at 6% interest per annum.