Where Did Those P40 Million Worth Of Catsup Go! Ketchup To Catch Up With Tomato Farmers In The Ilocos – William Dar
Today, how come the Northern Foods Corporation, NFC, based in Sarrat, Ilocos Norte, owes tomato farmers of the Ilocos almost P 40 Million? A clue is that the NFC is a government corporation [1] ( NFC.gov.ph ), and government is not very good in business, is it? Even if the product is as popular in Filipino homes as catsup or ketchup. (ketchup bottles [2] f rom NDTV Food ) With its huge farmer debt, the NFC has been hardly operating. Here comes the Department of Agriculture, DA, under Secretary of Agriculture William Dar, who now is, according to an official DA news release, “(allotting) P 65 million to help (the NFC) get back on its feet.” During a visit to the NFC processing facility in Sarrat, Ilocos Norte on 26 September 2020 (image above), Mr Dar said: We will extend needed financial assistance to the (NFC) to make it financially afloat and thus make it attractive for potential investors enroute to its privatization. The total P 65 Million consists of P 26 Million from the Ag