Coffee farmers in Kenya are set to access Sh2.7 billion to boost production. Agriculture Cabinet Secretary Peter Munya made the announcement and said the money will be loaned to coffee farmers with a payback interest of three per cent and would be accessed through the coffee cooperatives societies.
Addressing a group of farmers during a sensitization exercise at Maara Sub County, Munya revealed that Sh177.8million has already benefited about 15,703 farmers in the country. He however noted that the turnout number taking the loan in Tharaka Nithi was relatively low with only Sh280,300 having been given to 14 farmers.
“Others counties like Meru, Kirinyaga and Murang’a have taken advantage in borrowing the money as compared to Tharaka Nithi where the number of farmers borrowing the money is very low. To access the loan in advance, farmers needed to take their coffee to the factories to be weighed in kilos which would then be used as security when borrowing the money. All that is needed is your society to put in your signature that the money loaned will be deducted from the coffee sold,” he said.
Subsidized fertilizers prices
He added that farmers would still have access to the loans whether they sold their coffee through New Kenya Planters Cooperative Union (New KPCU) or other avenues.
“You don’t need to sell to only New KPCU to get the loans. You can sell anywhere and as long as you registered through your societies you will get the money,” he said.
Furthermore, coffee farmers would continue to enjoy subsidized fertilizers prices which could be accessed through National Cereals and Produce Board. Farmers can now pay 60% for the fertilizers, he noted, adding that the government would pay the remaining 40%.
He also revealed that the president has availed Sh1 billion to help the farmers in purchasing the fertilizers and other facilities required for farming. So far, 80,087 farmers have registered for the subsidized fertilizers and 59,000 have already benefited from 18 counties nationwide. In Tharaka Nithi, 5, 753 farmers have registered and 1, 049 have benefited, summing up the total spend in the county to Sh3.4million.
