The Struggles

December 1, 2021 - Benguet, Philippines -  It was difficult for farmers to get out of debt because they had to plant a lot of crops and if the price of crops go down this made them in debt. They had to take loans and the loans makes them pay larger interest rates which add to another debt. 

Getting a loan is difficult for a small farmer because most don't have collateral to pledge against loans. Collateral is an asset that the borrower owns and uses this as a guarantee to a lender until the loan is repaid. Most small farmers have to borrow money to arrange for the capital. They borrow from larger farmers or from moneylenders or traders who supply various inputs for cultivation. The rate of interest is very high

The farmers need to buy seeds, fertilizers, and pesticides to grow their crops. At times, the crops get ruined due to bad monsoons, poor quality of seeds, or pest attacks. In order to repay the loan, the farmers borrow again. There are Agricultural loans availed by a farmer to fund seasonal agricultural operations or related activities like animal farming, pisciculture, or purchase of land or agricultural tools but as per farmers they still can’t complete the loan requirements because they don’t have those requirements.

Same with traders, the main problem is the funds. They need to borrow money at higher interest up to 20 percent interest. It's a heartbreaking situation.

Farmer's basket is trying to help the situation and has coordinated the concern to European investors.  European Investors extend agricultural support as one of their projects in order to assist Filipino farmers. Farmer's basket encouraged everyone to help each other. to double gain and everyone will benefit.   

Let's embrace farming and the goodness of humanity.