• RICHARD T. CABALLERO JR.
The RU Foundry and Machine Shop Corporation and RU Eco-Agri Foundation is offering an interest-free financial assistance program to help recover the local farmers across the province of Negros Occidental, amid the low farmgate prices of palay.
In its program dubbed as “Palulos sa Magagmay nga Mangunguma,” the foundation allocated P50 million that can be lent to local farmers without any interest, while they are waiting for the fairer buying price of palay.
The corporation shall release to the cooperative the amount of P20,000 per hectare for every farmer-member who owns a maximum of 1.5 hectares covered by the program.
RU Foundry Executive President Ramon Uy Sr. said that their initiative is intended to support local farmers because some traders are buying their palay at a very low price.
“This money can help them not to be obliged to sell their product at a very low price, this will ease their burden to wait until the price increases,” Uy said.
Based on the recent data by the Department of Agriculture Negros Island Region, traders are buying palay from the local farmer at around P11 to P13 per kilo only. It was further added that at that price range, it is not enough for the farmer to recover their capital.
“We are not here to compete with the traders; this is just giving the farmers the option to sell their products at their desired cost,” Uy added.
Under the Memorandum of Agreement (MOA) signed by various LGUs and RU Foundry, the program is designed to provide farmers with financial support during the palay harvest and marketing season.
The harvest season in Negros Occidental begins on the last week of August, while its peak season takes place every September and October.
On behalf of other local chief executives, Bago City Mayor Marina Javellana-Yao expressed her gratitude for the help extended by the foundation. She hopes that the farmers may see the program as a reminder that they are not alone in their journey and that the community stands with them.
Uy further said that the money allotted was his personal loan from the Landbank of the Philippines and from his own funds.*
