The US Department of Agriculture will provide US$34.1 million (S$43.55 million) to support the Philippines’ push to develop purple yam or ube, as demand for the root crop surges.
The project will be funded by proceeds from the sale of nearly 40,000 metric tons of US soybean meal, and is expected to support 12,500 Filipino ube farmers over the next five years, the US embassy in Manila said in a statement.
It will be implemented by US-based non-profit TechnoServe.
The funding underscores increasing interest in the Philippines’ production of the crop, which has captured worldwide attention for its distinctive colour.
The South-east Asian nation has however struggled to meet rising global demand due to limited production capabilities.
To protect its scarce planting stock from emerging competitors like Vietnam and China, the Philippines recently suspended exports of fresh purple yam.
The government is aiming to build the nation’s ube production capacity and turn the crop into a bigger export earner.
The US embassy also said the purple yam project would further boost economic partnership with the Philippines, a long-time military ally of Washington. BLOOMBERG