COTABATO CITY—Cacao has emerged as the top agricultural commodity being supported in Mindanao by the World Bank-funded Philippine Rural Development Project (PRDP), cornering 22 percent of the total allocation for agriculture and fisheries ventures of recipient groups.
The PRDP approved P85.02 million in funding for cacao enterprises, more than double the P44.13-million granted to coconut enterprises and activities.
As of this year, the PRDP has supported enterprises engaged in the production and manufacture of products covering 12 commodities across the Mindanao regions. It has shelled out P387 million to support these commodities.
Rice came in third, with P40.54 million, followed by abaca, with P38.91 million.
Also banana farmers and cooperatives were allotted P37.19 million for their various ventures. Cassava and rubber came close, with P36.19 million and P36.15 million, respectively.
Seaweed ventures that were mostly cultivated in the Zamboanga Peninsula and the southwestern island provinces of Basilan, Sulu and Tawi-Tawi, got P26.70 million. Coffee also came close with P25.57 million.
Non-crop ventures also received financial and technical support from the PRDP. These are goat production which was given P11.13 million; swine production, P4.76 million; and bangus production, P1.16 million.
“This high-value crop remained to be on top of the list in terms of capital investment as more proponent groups, association, and farmers recognized the value of this commodity in terms of local and international market demand,” said PRDP Deputy Project Director Danilo T. Alesna.
Program officials also disclosed that Mindanao received the second-biggest financial support under its Investment in Rural Enterprise and Agriculture and Fisheries Productivity (I-Reap) component.
Under I-Reap, Mindanao was allocated P621.22 million, representing 28 percent of total allocation. North Luzon obtained the biggest support under the I-Reap component.
“The I-Reap component of the PRDP aims to elevate agricultural production by installing production and market support facilities, establishing enterprises and upscaling product at the appropriate commodity value chain,” Alesna said.
It said two projects were already completed under this program component. These two projects cost P9.57 million and had 18 proponent groups comprising of 477 direct beneficiaries.
Some 24 subprojects are still being implemented and are worth P213.99 million with 88 proponent groups and 9,543 beneficiaries, while another 58 subprojects worth P177.97 million are in the procurement stage. The 58 subprojects were proposed by 63 groups and will have 6,838 beneficiaries.
In terms of regional shares, the PRDP said Region 12 has the largest investment worth P250 million. This amount was 40 percent of the total I-Reap cost.