Home / Knowledge / News / Textiles / Peru to boost cotton farming with new credit policy
Peru to boost cotton farming with new credit policy
Jan '12
The Directorate General for Agricultural Competitiveness (DGAC) under Peru's Ministry of Agriculture (Minag) has announced funding mechanisms to strengthen the country's production and marketing of cotton.

Minag said the small farmers groups have proved their creditworthiness and hence it has become possible to sanction loans up to 7.80 billion Peruvian soles (US$ 2.897 billion) towards growing pima cotton on 2,000 acres, which will benefit 800 small farmers in the Lower and Middle Piura regions.

Under the scheme, a credit of 12 million Peruvian soles (US$ 4.457 million) has already been sanctioned to the Piura-based Multiple Services Cooperative Chusis-Costache Tallan. The loan would be released by the Agricultural Bank (Agrobanco). The amount would be utilized for growing, processing and marketing of nearly 120 million pounds (54.431 million kg) of raw cotton for export.

The Government's implementation of the funding mechanism is expected to yield more revenue to farmers as they would be able to produce more by utilizing the access to credit facilities.

It will also enable Peruvian cotton growers to market their produce in global markets, which they have been intending to do for the last two decades.

Minag said the sanction of new credit will help cotton growers procure various inputs, better seeds and get technological assistance that would result in higher income and standard of living for them.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Marcel Alberts

Coating at a fibre level is a practice not usually seen in the...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Sonam & Paras Modi

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Subscribe today and get the latest News update in your mail box.
Advanced Search