DA-assisted, PITAC-MPC signs an MOU with Vitarich for the market of corn.

 

CAGAYAN DE ORO CITY – With its role in providing local farmers and producers access to profitable markets, the Department of Agriculture – Regional Field Office 10 (DA-RFO 10) through Regional Executive Director Carlene C. Collado, expresses its continued support during the recent virtual signing of the Memorandum of Understanding (MOU) between the Philippine International Travel Assistance Center – Multipurpose Cooperative (PITAC-MPC) and Vitarich, Corp.

RED Collado graced the event, as the two parties sealed a marketing agreement for the supply of corn.

As agreed, PITAC-MPC shall produce corn in accordance with Vitarich’s specifications, while Vitarich shall purchase such corn directly from the Coop.

Per MOU, Vitarich shall purchase its corn requirements from PITAC-MPC at an agreed price range of market prices within CdeO City plus P1 as provided in the Purchase Order covering the purchase of 500 metric tons (MT) of corn, and anything above 500 MT will be negotiable.

According to Dir. Collado, the marketing agreement serves as a model for direct market linkage where farmers are offered better prices by the processors.
He added that it will encourage more farmers to sustain their production and strengthen the region’s corn industry with the procurement of corn from local farmers; thereby, increasing farmers’ productivity and income.
“This MOU will be a catalyst to help the expansion of corn production in Northern Mindanao, and also contribute to improve and sustain the food supply chain in the entire country,” the regional executive director remarked.

During the MOU signing, representing Vitarich, Corp. is Executive Vice President and Corporate Management Services Director, Stephanie Nicole S. Garcia, PITAC-MPC Christery May C. Dinoy, Board of Directors chairperson, and witnessed by DA-10 Agribusiness and Marketing Assistance Division chief Larry E. Paraluman.# (RDMElloren)