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Agriculture Department Approves P300-Million Fund for Loans for Hog Raisers

Details About Loans for Hog Raisers by DA

LOANS FOR HOG RAISERS – The Department of Agriculture approved the Php 300 million fund for recovery loan offers for Filipino hog raisers.

There are a lot of challenges that have greatly affected the Philippines since last year. One of these is the African Swine Fever (ASF) which caused problems in meeting the demands of the consumers for pork. It went on for several months amid the other ordeals that the country is facing.

There were even times when the Philippines banned the import of pork products from selected countries to prevent further worsening the situation. Adjustments like in the tariffs also took place.

Unfortunately, many hog raisers were greatly affected by the ASF. They almost lost their businesses where their family is relying upon a living.

Department of Agriculture Loans for Hog Raisers
Photo: Business Mirror

To help those who were greatly affected by the African Swine Fever (ASF), the Department of Agriculture (DA) approved some funds for loans for hog raisers to help them in their recovery.

Based on a report on ABS-CBN News, the DA approved P300 million fund for loans for hog raisers. It is open for the pig producers in “green zones” or the areas that are free of ASF. According to DA Secretary William Dar, under the loan offer, it is payable in five (5) years under zero interest.

Dar stressed that the Department wants to help through the loans for hog raisers in green areas to also increase the inventory in the hog industry. According to him, there were three (3) million depopulated hogs because of the ASF.

With regards to the loanable amount, a backyard hog raiser may borrow at least Php 200,000.00 for the production of 40 pigs. The amount can also be used for the biosecurity measures against the ASF.

You may also visit – DA Reveals Amount of Indemnification for ASF-Hit Hograisers

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