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The first haverst of Ecofarm in Long An province

Ecofarm, one of the first companies that VBCF has invested in, witnessed its first harvest today. The first season of corn production covers 103 ha and involves 100 households.
 
The business idea of Ecofarm is to support Long An province to successfully convert low-yield rice cultivation area to corn production with an aim to improve the livelihoods of the local people. Ecofarm is one of the first companies selected by VBCF for its innovative inclusive business model that works with individual farmers through a new form of cooperative with a business-like corporate governance structure. The company provides farmers with technical training and production inputs including corn seeds, organic fertilizer, and production tools. Ecofarm also signs contracts with farmers, through cooperatives, to buy back the corn that they produce. A processing complex is being built in Duc Hoa district, including corn drying, packaging, warehouse facilities and especially, bio-char producing system using corn residues. The bio-char is supplied to corn cooperatives.
 
The Ecofarm’s business venture aims to cover 200 ha of corn production 2014, 400 ha in 2015, involving 400 households participating in Duc Hoa district, Long An province. Mr. Quang, CEO of Ecofarm said: “Ecofarm is committed to taking up the challenge of bringing better products to the market, improving lives of low income farmers and contributing to environmental preservation by introducing organic fertilizers and bio-char. This is not an easy way to go, and we will need to go side by side with farmers to reach out for shared goal”.
 
To date, three cooperatives have been established in three communes in Duc Hoa district. A revolving fund has been established and is functioning. The joint efforts of Ecofarm, its stakeholders and the participating farmers have paid off: the first harvest promises much higher yield and the farmers are excited about a better future. Ms. Mai Thi Rang, a farmer from Duc Lap Ha, Duc Hoa district, shared her feelings: “Being part of the cooperative I feel my both inputs and outputs secured.”
 
This inclusive business model has a high potential for scaling up. Geographically, it has already been scaled up to An Giang and Dong Thap provinces.
 
Source: VBCF

 

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