Tie-up to boost LGU capacity to buy palay

THE Department of Agriculture (DA) has partnered with state-run Land Bank of the Philippines (LandBank) for an initiative to extend P10 billion in loans to local government units (LGUs) so they can purchase palay (unmilled rice) from their farmers.

The new program, called “Palay Alay sa Magsasaka ng Lalawigan,” is part of the DA’s bid to further boost procurement of local palay to help farmers reeling from very low prices of their produce under the new rice regime, Agriculture Secretary William Dar said in a press conference on Friday in Manila.