Latest Stories

Rehab of banana plantations set


A rare cloud formation is seen amid destroyed banana plantation four days after typhoon Pablo rendered extensive damage to agriculture at Montevista town, Compostela Valley, on Dec. 8, 2012. Sumifru Banana Corp., Land Bank of the Philippines and banana growers in areas hard-hit by Pablo are set to sign a tripartite agreement to rehabilitate affected banana plantations in Davao Oriental and Compostela Valley, Agriculture Secretary Proceso Alcala said on Friday, Jan. 4, 2013. AP/BULLIT MARQUEZ

MANILA, Philippines—Japanese firm Sumifru Banana Corp., Land Bank of the Philippines and banana growers in areas hard-hit by Typhoon “Pablo” are set to sign a tripartite agreement to rehabilitate affected banana plantations in Davao Oriental and Compostela Valley.

“They will sign the agreement and assess the farmers’ needs by next week,” Agriculture Secretary Proceso Alcala said in an interview on Friday.

Alcala said the three parties met on Friday to lay out the rehabilitation plan for the country’s major banana-producing areas.

“They (the three parties) will be our conduit to ensure that interest rates (for the funds to be used in the rehabilitation) will remain single-digit,” he said, noting that the interest rates with collateral should not be more than 8 percent.

Earlier, LBP has offered a P2-billion loan facility for all the banana growers whose farms were destroyed by Typhoon Pablo.

The banana sector was hit by the typhoon in December, sustaining losses of P22.23 billion. The damage to agriculture and fisheries then ballooned to P29.1 billion, the highest in recent years, according to DA records.

According to a report of the DA’s field unit in Region 11, about P33.35 million will be needed for the rehabilitation of banana plantations in the region.

Alcala said since the rehabilitation effort might take at least a year, LBP had offered a two-year grace period in the payment of the five-year loans.

Follow Us

Follow us on Facebook Follow on Twitter Follow on Twitter

Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: agreements , Agriculture , banana plantation , bananas , Philippines , rehabilitation , Typhoon Pablo

  • http://profile.yahoo.com/UZMYIL5FXLVIHRZXBQGONZS6U4 Jhune

    Cooperation of all specially the financial institution is the best solution for speedy recovery, We can all help our country men not only financial or material thing but our sincere prayers for their sake.  

  • barry p

    Good to see help coming to the banana producers sector.

    To arao_liwanang….Sure people devastated by typhoons also need help.  

    And there are specific programs handled by SSS, GSIS, DSWD, Health Dept, etc. specifically to address that need.

    Different programs for different needs.  

    This news article SPECIFICALLY talks about the need of an industry employing thousands of people.  If you don’t help this sector those people will lose their livelihoods/jobs.

    Your statement is PATHETIC.  

    Typical of society’s termites from arroyo, estrada, binay camp. 

  • arao_liwanag

    What about the people devastated by the typhoon, do they don’t need speedy rehab more than the plantation? Where does the morality of the Aquino government lies.

Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94


  • Drunk passenger triggers Bali hijack alert
  • Businesswoman allegedly killed by husband, brother-in-law
  • Roxas suspended from golf club for outburst over P5,000 guest fee
  • SC reschedules oath-taking of new lawyers
  • Ex-COA chief seeks bail after arrest for plunder
  • Sports

  • Guiao fined P100,000 for ‘mongoloid’ comment vs Meralco forward
  • Hawks and Grizzlies revel in home wins
  • Floyd: Manny’s power gone
  • Michael Phelps loses to Lochte in comeback meet
  • Sharapova advances to Stuttgart quarterfinals
  • Lifestyle

  • ‘Recovered’ Banksy works on display ahead of sale
  • Marinduque: Visiting the ‘palm of the ocean’
  • First at Vatican in 60 years
  • How Jing Monis Salon gave Krissy the pixie
  • Want to be a supermodel? Work on your inner beauty, says Joey Espino
  • Entertainment

  • Paul McCartney to play at Candlestick concert
  • Kristoffer Martin: from thug to gay teen
  • Has Ai Ai fallen deeply with ‘sireno?’
  • California court won’t review Jackson doctor case
  • Cris Villonco on play adapted from different medium
  • Business

  • PAL hailed for ban on shark fin cargo
  • BSP to change tint of P100 bill
  • Nielsen sees car buying boom in the Philippines
  • How author of best-seller exposed ‘one percent’ economic elite
  • Bangko Sentral readies new bank lending rules
  • Technology

  • Cloud strength helps Microsoft earnings top Street
  • Vatican announces hashtag for April 27 canonizations
  • Enrile in Masters of the Universe, Lord of the Rings?
  • Top Traits of Digital Marketers
  • No truth to viral no-visa ‘chronicles’
  • Opinion

  • Corruption not invincible after all
  • Editorial Cartoon, April 25, 2014
  • No deal, Janet
  • Like making Al Capone a witness vs his gang
  • MERS-CoV and mothers
  • Global Nation

  • Plane lands at Bali airport in suspected hijacking—Indonesia air force
  • Obama lands in Seoul as N. Korea nuclear test fears grow
  • Militant protests vs Obama, US set
  • Filipinos second-shortest in Southeast Asia
  • China welcomes PH apology
  • Marketplace