MOU Signing on DA’s Food Markets and Terminal (Feb. 21, 2022)
Press Release: Agriculture Secretary William Dar signed a Memorandum of Understanding (MOU) on the development of food market and terminal plans with KMV Asia Development Corporation and Banyara Development Corporation (BDC) Chief Executive Officer and Legal Representative Kaydee Marie Velasco on February 21, 2022.
The Department of Agriculture (DA), KMV Asia, and BDC’s partnership aims at working on the DA’s Food Markets and Terminal plans, providing advice and technical assistance in the design, and improving the policy and regulatory framework. Market and feasibility studies will also be conducted on the location options and possible partnerships with food market operators to ensure the program’s sustainability.
The partnership is in line with the DA’s effort to pursue various solutions in organizing and establishing receiving and processing facilities for the produce of farmers and fisherfolk, which will then be sold directly to consumers or vendors’ associations. This will help maintain the freshness and quality of farm and fishery products, reduce postharvest losses, and increase the income of farmers and fisherfolk.
Food markets and food terminals, which may integrate processing and storage facilities, allow buyers and sellers of agricultural raw materials, products, and food to directly interact and facilitate exchange on wholesale.
DA Assistant Secretary for Strategic Communications and Spokesperson Noel Reyes and DA-Bureau of Animal Industry (BAI) Director Reildrin Morales witnessed the partnership signing.
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