CAGAYAN DE ORO CITY — Farmers in Bukidnon province are set to supply ube to the United States market following a P35-million investment agreement signed last week in Malaybalay City, Bukidnon.
The Department of Agriculture Regional Field Office 10, agribusiness firm Verueco Ventures Corp. and two local farming cooperatives formalized the five-year initiative at the Northern Mindanao Agricultural Crops and Livestock Research Complex.
Under the agreement, the Lantapan Ube Planters Association and the Balugto Hope Agroforestry Association Inc. will partner with Verueco Ventures to produce an estimated 1.5 million kilograms of purple yam annually.
The harvested ube will be transported to Batangas for processing into powder before export to the U.S.
The venture addresses market volatility for local growers by establishing fixed pricing and guaranteed buyer access before planting begins.
“In our previous experience growing vegetables, we faced many failures because there were times when the market became oversupplied,” said Junita D. Luminda, a member of Balugto Hope. “This is the first time we have experienced planting with an assured buyer.”
Roel Soria, chairperson of the Lantapan association, noted that guaranteed market access is critical to farm viability.
“We may be able to find financing anywhere, but without a market, it is still of no use,” Soria said.
Verueco Ventures Treasurer Jan Romeo Verueco called the project the firm’s flagship ube venture, driven by expanding international demand for raw materials for processing.
To support production, Jose Apollo Pacamalan, regional executive director of the Department of Agriculture's regional office, committed to providing technical assistance, including soil analysis, organic fertilizer, high-yield planting materials, farm machinery and routine field monitoring.
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