The Ecological and Agricultural Development Foundation Inc . based in Bacolod City in sending a stabilizer fund for the farmers in Occidental Mindoro who are faced with an oversupply of onions that are now just being thrown away, Ramon Uy Sr., the foundation’s president, said Wednesday, April 6.
The fund from the foundation will come from RU Foundry, said Uy, who has informed Agriculture Secretary William Dar of the move in the hope that more groups aid the onion farmers.
Uy said he is providing an initial stabilization fund of P200,000 that could purchase at least 14 tons of onions. The fund will be given through farmers cooperatives identified by the Department of Agriculture.
He said under the arrangement the farmers will be paid while they keep their produce until prices improve so they can earn more. The farmers can then pay the amount back without interest, Uy added.
“The amount is not substantial but it will trigger interest from the private sector to assist the farmers and onion traders will start buying because there is competition”, Uy said.*