| Summary, etc. |
ABSTRACT<br/><br/> AGBUGGO, JUNELYN ANN S. 2019. Perception of Rice Farmers<br/>Towards the Sources of Agricultural Finance in the Rainfed Areas of the City of<br/>Batac, Ilocos Norte. Undergraduate Thesis. College of Agriculture Food and<br/>Sustainable Development, Mariano Marcos State University, City of Batac, Ilocos<br/>Norte. 65 pp<br/>Adviser: Dr. Zenaida H. Esteban<br/><br/> The study was conducted in the three barangays of the City of Batac, namely<br/>Camandingan, Dariwdiw and Tabug. It aimed to assess the perception of rice farmers<br/>on the sources of agricultural finance in the rainfed areas. Specifically, it aimed to<br/>determine the rice farmer-respondents' socio-demographic profile, farm/economic<br/>profile, and their perception towards the sources of agricultural finance in terms of<br/>problems, loan process, loan scheme, and in their general perception on how they<br/>view the two sources of agricultural finance.<br/> Majority of the rice farmer-respondents were middle-aged, most of them were<br/>females, married, high school graduate and has a small family size. Majority of the<br/>rice farmer-respondents were members of an organization in their barangays and had<br/>no training/seminar on rice production. Almost half of the rice farmer-respondents<br/>had knowledge on credit through word of mouth.<br/>Farming was their main source of income but they were also engaged into<br/>animal backyard raising. Majority of the rice farmer-respondents used tractors or<br/>hand tractors and most of these machineries are government-owned. The average landholdings of the farmer-respondents were 3,200 sq m and more than half of them<br/>were share tenants. To finance their field operations, they used their personal<br/>savings, but if they did not have enough capital, they needed to borrow money from<br/>capital providers. Almost half of the rice farmer-respondents borrowed loan from the<br/>two sources of finance with an average amount of P9, 609 which is payable within 2-<br/>6 months.<br/> The general perception of the rice farmer-respondents towards the two sources<br/>of agricultural finance showed that they agreed on the statements given. The top five<br/>statements in which rice farmer-respondents agreed are the following; borrow only in<br/>times of need or urgent situation, the better the repayments record of loans the greater<br/>chance to apply for another loan, it helps buy seed, fertilizers at farmer's convenient<br/>and choice, credit limits can be enhanced depending on performance and needs, and<br/>the repayment is done after harvest. With regards to the problems perceived by the<br/>rice farmer-respondents towards the formal and non-formal sources of agricultural<br/>finance, the top five statements in which they agreed are the following: high interest<br/>rate, unaware of the due date of loan, insufficient amount of loan allowed and loan<br/>officer is not helpful and felt mistreated.<br/> The perception on the loan process by the rice farmer-respondents was also<br/>determined. They agreed to the statements like, repayment period is just and fair and<br/>the simple procedures and formalities for the both sources of credit. Majority of their<br/>responses was neutral, for they do not know if they will agree or disagree to the<br/>statements given. The perception of the loan scheme under both sources of agricultural finance, the rice farmer-respondents agreed on the seven statements like,<br/>repayment of loan is low, credit facilities are well informed to the beneficiaries,<br/>action on default is informed to the beneficiaries, operate at times and on days, the<br/>scheme meets the needs of the beneficiaries and the scheme provided is reaching the<br/>right people and lenders are approachable.<br/> Based on the results of the study, the following are recommended: the terms<br/>used in obtaining loans should be simplified so that they can be thoroughly<br/>understood by the farmers; there should be an information dissemination for the<br/>farmers in order for them to be knowledgeable of what proper financial institutions<br/>they can approach in asking for help, the government, through its lending institutions,<br/>should continue its financial assistance to the farmers; and more accessible and<br/>affordable facilities should be implemented to the farmers especially in the remote<br/>areas of the city/province.<br/><br/><br/> |
