RP dairy industry targets OFW funds

CAGAYAN DE ORO CITY, Philippines - The Dairy Confederation of the Philippines is targeting overseas Filipino workers for joint ventures.

"We are encouraging Filipinos working abroad to invest in dairy animals and let the farmers manage and handle dairy projects," Danilo V. Fausto, the group’s national chairman, said during the 11th National Dairy Congress held here.

Mr. Fausto said this is one way farmers can get access to much-needed funds, other than banks which have always been reluctant to lend to them since farmers usually cannot provide loan collaterals.

"The farmers have the land and the technology, all they need is a dairy animal to manage," said Mr. Fausto.

He noted that a typical farmer cannot afford the P90,000 price of a cow.

"The overseas investor needs to trust the farmers," said Mr. Fausto.

He added that the congress is promoting herd management and will introduce better technology for farmers. The three-day dairy congress ended on Friday with around 1,000 participants coming from the country’s various regions.

"While rice is staple, there are many [kinds of] produce from dairy animals: there’s a thousand kinds of cheese in the market, as well as fresh milk and even meat," said Mr. Fausto. - G. Alba, BusinessWorld

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