OFW
Cacao farming a wise
investment for OFWs
by Nil Garces Belar & Philip Ortaleza
W
ith the abundance of crops that the
Philippines possesses, there is also a huge
potential to grow, and help cacao become
a very wise investment for OFWs. This was
the assessment made by Valentino Turtur,
chair of the Philippine Cacao Industry
Council, who is equally pushing for the
OFW Agriculture Business Investment
Program (OFWABIP) - a platform where
Filipinos working abroad can invest in cacao farming.
A joint partnership between The Department of Agriculture - Agri-
business and Marketing Assistance Service (DA-Amas), Philippine
Cacao Industry Council and the Department of Labor and Employ-
ment (Dole), the this year the OFWABIP, which will be piloted with
Credits : Industry.gov.ph
Credits : didp.gov.ph
OFWs working in Hong Kong, offers advantages in cacao farming.
Turtur said the program will enable OFWs invest their money and let
it grow through farming, stressing how OFWs in Hong Kong are eager
to invest in Philippine’s cacao industry. This program was created after
he attended an Investment Forum for OFWs dubbed as “Investment
Agri-Negosyo at Serbisyo” last July 23 in the SAR China.
After the launching Hong Kong, the program will be replicated in Sin-
gapore, Korea, and Dubai. Turtur is confident that Agriculture Secretary
Emmanuel Pinol will support the program.
“The program will be like a crowd funding and our OFWs will serve
as the investors,” Turtur enthusiastically said, adding that the organizers
are in the process of finalizing a model for this program. “We are trying
to draft a modern model for this program. We already talked with Hong-
kong’s labor attaché and he already committed to support the program.”
He stressed the program will be more of a corporate farm with a mini-
mum of 50 hectares. The OFWs’ investments will be used for the develop-
ment of the farm.
“I already briefed the OFWs in Hong Kong that in cacao farming, you
will wait three years for the harvest but after that, you will get five per-
cent raise from your investment, monthly. It will be better in banking. But
Cacao is a permanent crop, so no worries,” he said.
Turtur said they initially plan to have a diversified the farm in Laak,
Compostella Valley and Magpet, Cotabato.
“It’s a cacao farm intercropped with abaca, bananas, and vegetables,”
he said adding that the program will give farmers and other workers job
opportunities.
Not only that, a very interesting range of diversified products that
cacao itself offers: cacao flour, cacao-based flavourings and sweeteners,
and of course, hot cacao beverages.
(reference: ASP/PNA)