Consultative meeting held on the proposed MOA to stop all-in buying of abaca
A consultative meeting with the major players in the Philippine abaca industry was recently held to consult and seek the nod of the stakeholders on the memorandum of agreement (MOA) crafted by the agency to stop the practice of “all-in” buying of abaca fibers.
The meeting was led by Philippine Fiber Industry Development Authority (PhilFIDA) Director Ted Costales.
The MOA provides for the commitment of the key sectors of the industry to cease from doing “all-in” buying of abaca fibers and buy on a classification basis instead.
This came after the said practice was identified to be the cause of the uncontrollable deterioration of fiber quality that has been affecting the industry for the past years.
Except for minor corrections and recommendations for refinement, the MOA presented was generally accepted by the participants and all the parties involved agreed to meet once more for the finalization of the document.