President Ibrahim Mohamed Solih has revealed Agro National Corporation (AgroNat) is currently marketing produce from 163 farmers.
Delivering the presidential address at the Parliament of the Maldives on February 3, President Solih highlighted the efforts undertaken by the administration to diversify the economy, by expanding sectors such as agriculture. In this regard, the president revealed the state-owned agricultural company AgroNat has established contracts with 704 farmers from 68 islands under the contract farming project, noting the company is currently marketing produce from 163 farmers. He added the contract farming project has been a success and expressed hope the project will reap benefits for farmers from all over the country.
Speaking further, President Solih revealed over USD 1 million has been disbursed as loans to farmers via the SME Development Finance Corporation (SDFC). He also stated the government would impose import duties on foreign products that can be produced in the country, providing farmers with a better local market for their produce.
AgroNat was established by the government to market agricultural produce from local farms and provide a better income for farmers by providing technical and financial assistance to local farmers and helping them to market their produce. The company has established contracts with farmers to produce 17 different types of fruits and vegetables.