BATANGAS CITY -- There is a new grains terminal and trading station established in this city through the efforts of the private sector, particularly the Sorosoro Ibaba Development Cooperative (SIDC) and the national government.
Agriculture Secretary Francisco Tiu Laurel Jr. said the establishment of a grains terminal is aimed at consolidating corn supply to lower the cost of animal feeds and consequently bring down the prices of poultry and livestock in the Southern Tagalog Region.
Of the P278.3 million budget for the establishment of this agricultural and trade facility, a total of P178.3 million worth of cash and in-kind contribution came from the Sorosoro Ibaba Development Cooperative (SIDC).
The rest or P100 million was provided by a loan from the World Bank, and counterpart funding from the Department of Agriculture's Philippine Rural Development Project (DA-PRDP). This should total to some P50 million each from the WB and the DA.
President Ferdinand Marcos Jr. led the inauguration of the grains terminal and trading station in this city on Thursday.
SIDC is one of the largest agriculture-based cooperatives in the Philippines. It was founded in 1969, and has been working on improving market access and providing livelihood for its members for over 55 years.
The new grain terminal project will enhance SIDC's existing feed mill by incorporating a silo operation with a capacity of 12,000 metric tons (MT).
In 2021, the SIDC also invested in a state-of-the-art rice mill with a processing capacity of five tons per hour. With an enhanced feedmill and a state-of-the-art rice mill, SIDC is expected to strengthen its role in the agricultural supply chain.
The new facility will be a major hub for yellow corn and other ingredients for animal feed. It is designed to enhance corn production and marketing, to the benefit of farmers, hog and poultry raisers.
DA Secretary Laurel Jr. said the project will benefit 567 corn producers, hog raisers, and poultry farmers.
"This project, backed by the World Bank and initiated by SIDC, is a testament to what we can achieve for our farmers and fishers when we collaborate and cooperate. This new grains terminal and trading hub will not only put more money in our farmers' pockets but will lower the cost of producing poultry and hogs, helping ensure a stable supply and affordable food prices for many Filipino consumers," he said.
#WeTakeAStand #OpinYon #
OpinYonNews #SIDC #DA