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Peru's agricultural bank sets up fund for alpaca fibre
Dec '13
The Agricultural Bank of Peru (Agrobanco) has established a fund of 25 million Peruvian Nuevo sols in order to finance the processing and purchase of alpaca fibre produced in the highland communities of the country.
According to a statement issued by Agrobanco, the fund aims to benefit the producers of alpaca fibre in the highland communities of Pasco, Junin, Huancavelica, Puno, Arequipa, Cusco and Ayacucho, under the Camelid program of the Ministry of Agriculture and Irrigation (MINAGRI). 
The bank has allocated the textile firm SURITEX based in Huanca with a loan of 500,000 Peruvian Nuevo sols from the fund for purchasing 34,000 pounds of alpaca fibre from the Association of Producers Livestock Werph Sama, Los Andes Yanahuanca, Peruvian Society of Breeders of Alpacas in Pasco and the Cooperative San Antonio Community of Rancas in Pasco.
According to Agrobanco, through this operation both the textile firm and the alpaca producers would benefit, as breeders would face less difficulty in marketing their products.
Part of the loan is for the textile firm to expand their spinning and garment production, in order to increase raw material requirements, which would be directly supplied by producers, instead of through the traders who offer them low prices.
The objective of the funding is also to assist the categorization of alpaca products in order to help them get fair prices in the market. Through this operation, Agrobanco aims to strengthen the alpaca chain in Peru and consolidate a ready market in order to promote the sector.

Fibre2fashion News Desk - India

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