During the rainy season, contract farming will be carried out in Yangon Region, covering 10,618 acres for cultivating monsoon paddy.
On 1 July, the Yangon Region Chief Minister provided 3,440 bags of urea fertilizer worth about K326.8 million for 1,720 acres in Taikkyi Township, where the contract farming will be implemented. The overall plan is to cultivate 10,618 acres in the rainy season through contract farming, involving 1,100 members from 58 teams in 10 townships in Yangon Region.
Contract farming is a system that carefully negotiates how to share the benefits, including the obligations, commitments, and risks, between farmers and a company in the agricultural business. In addition, when benefits are continuously generated for farmers and the company, the trust between both parties will be strengthened and the business successful. The advantage of this system is that all stakeholders such as sellers of agricultural inputs such as seeds and fertilizers, farmers, equipment suppliers, service companies such as rice milling, traders, and banks are integrated into a single group. — TWA/CT
