 | Linking seaweed growers org to financing institution |
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By DA - BFAR
Published on May 11, 2021
BUTUAN CITY, May 11 -- The Hinatuan Seaweed Producers Association (HSWPA) has officially forged a financial partnership with the Mangagoy Farmers Fisherfolks and Community Multi-Purpose Cooperative (MAFFISCO-MPC) through the assistance and facilitation of the Fisheries Coastal Resource and Livelihood (FishCORAL) Project.
The HSWPA has open access to up to 20 tons per month of raw dried seaweeds (RDS) by the CEAMSA Asia, however, it has been a challenge for the organization to meet its volume because of the lack of buying capital.
With the P1 million credit line financial assistance from MAFFISCO-MPC, the HSWPA has now the opportunity of buying unlimited RDS and could ship to CEAMSA Asia even at least twice a month.
Department of Agriculture - Bureau of Fisheries and Aquatic Resources (DA-BFAR) Caraga OIC Regional Director Nilo Selim Katada, together with Hinatuan Mayor Shem Garay and FishCORAL Project Manager Rolando Leopoldo, witnessed the execution of the Memorandum of Agreement between the HSWPA and MAFFISCO-MPC on May 5 in Mangagoy, Bislig City, Surigao del Sur.
The HSWPA is one of the beneficiaries of the FishCORAL Project. With the project, seaweed farmers in Hinatuan who were used to dry their seaweeds on the ground, are now using the solar dryer provided for them by the FishCORAL Project, thus improving the quality of the drying of their seaweeds. (DA-BFAR Caraga/PIA-Caraga)
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