LISTED AgriNurture, Inc. (ANI) has partnered with the National Commission on Indigenous Peoples (NCIP) and the Unified Bagobo-Tagabawa Tribe on improving rice and corn production in Davao del Sur.
In a regulatory filing on Monday, ANI disclosed that it had forged a memorandum of agreement with NCIP and the Unified Bagobo-Tagabawa Tribe in an initiative that will promote inclusive agricultural and economic growth in the town of Bansalan, Davao del Sur.
Under the agreement, the company will pursue land productivity by investing in the development, operation, and management of the rice and corn plantation in Bansalan.
“All employment and labor requirements of the project shall be primarily sourced from the Unified Bagobo-Tagabawa Tribe. NCIP shall monitor and evaluate compliance of the parties in the terms and conditions of the memorandum of agreement,” the disclosure said.
The Unified Bagobo-Tagabawa Tribe will receive an annual royalty fee and annual net profit share in the project, the company said.
Meanwhile, ANI said that it would create other programs concerning health, skills development, and alternative livelihood as assistance to the communities in the area.
It added that the parties under the agreement, together with other concerned national government agencies, would conduct tree planting activities spanning at least 2,000 hectares of land.
On Monday, ANI shares at the stock exchange rose 0.54% or four centavos to close at P7.40 apiece. — Revin Mikhael D. Ochave