The plantation has 200,000 oil palm trees and a 300,000-capacity nursery for seedlings. But unlike Okomu and other big players, small farmers say they struggle to get financial help, as they are mostly left outside of the central bank loan schemes and are unable to tap other funds. He said CBN loan money "does not get to local farmers", adding that "we only hear it in the news". To develop one hectare of oil palm requires $4,000 to $5,000 and the gestation period is a minimum of three years, according to the association. "Given the right incentives, our local farmers will perform," said Sola Oni, an analyst with Sofunix Investment.

Source: Manila Times October 03, 2021 13:07 UTC