Iloilo onion farmers expand through loan grant from ACPC
Agriculture Secretary Emmanuel Piñol said the Department of Agriculture (DA), through the Agricultural Credit Policy Council (ACPC), has extended production loans amounting to P82 million to onion farmers in Iloilo.
DA Region VI Director Remelyn Recoter, as cited by Piñol, said that for the whole province of Iloilo, the target expansion area for onion farms is 1,000 hectares with an average production of 10 metric tons (MT) per hectare.
Under the Production Loan Easy Access (PLEA) Program of the DACPC, onion and garlic farmers are granted a P150,000 loan per hectare at 6 percent per year or .5 percent per month.
This loaning program is available to all onion and garlic farmers all over the country.
The program is expected to fill up the national requirements for onion by the end of the term of President Rodrigo Duterte.