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Agricultural equipment now offered at easy payment terms

Modern equipment at only 15 percent equity
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Agriculture has always been one of the strongest industries that drive the country’s economy. However, there are less and less Filipinos who see agriculture as a business opportunity.

To encourage more businesses to enter agriculture, the Department of Agriculture launched a new scheme that will provide farmers’ cooperatives and irrigators’ association to avail of farm machines and equipment. The scheme reduces the equity of farmers’ cooperatives and irrigators’ associations to only 15 percent.

Agriculture Secretary Proceso J. Alcala said with the scheme the Aquino government is making modern farm equipment within easy reach of farmers nationwide.

He said the DA will shoulder 85 percent of the cost under its farm mechanization and post-harvest program. This year, the DA has earmarked P1.8 billion for the purpose under its national rice program, and proposes to increase it further to P3 billion next year.

Qualified farmers’ groups can choose from a range of agricultural machinery and equipment that include four-wheel tractors, rice combine harvesters, hand tractors, drum seeders, threshers, reapers, rice seed cleaners, flatbed dryers, solar dryers, and moisture meters.

With the lowering of the farmers’ equity to 15 percent, Alcala hopes to encourage farm machinery manufacturers and distributors to follow suit by offering easy financing schemes to farmers’ groups.

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