March is an eagerly anticipated month in the Philippines, as it marks the beginning of the rice harvest season. As Goldmine, along with other Agribusinesses and organizations continues to support local farmers in the Philippines through Contract Farming, development for the Philippine agricultural sector transformed the rice harvest season in the said month. This innovative approach has brought about numerous benefits for farmers ushering in a new era of cooperation and efficiency in rice production.
The rice harvest that takes place in March is the result of extensive planning and hard work carried out by the partner farmers of Goldmine Farm to Market Franchise. As early as November or December, they initiate the process by plowing the fields and making them ready for planting. They make careful choices regarding the rice variety that is most suitable for the land and climate of Nueva Ecija, considering important factors such as resistance to drought and diseases, as well as the potential yield.
Under the contract farming model, farmers receive inputs, such as seeds, fertilizers, and post-harvest facility from Goldmine Farm to Market Franchise. In turn, Goldmine commits to purchasing the farmers’ produce at a pre-agreed price, thereby guaranteeing a fair agricultural trade. Moreover, contract farming has empowered small-scale farmers by reducing their vulnerability to market fluctuations and providing them with a reliable source of income. The predetermined price guarantees offered stability and financial security, enabling farmers to plan for the future and invest in their farms and families.
With the completion of the rice harvest in March 2023, the positive outcomes of contract farming collaborations become motivating examples and drivers for further progress in the agricultural sector of the Philippines. Through the implementation of inventive techniques and cooperative endeavors, the country takes significant strides towards attaining its agricultural objectives not only for the Farmers but also for the end consumers.