SEARCA boosts soybean projects in Philippines

  • 16 March 2019, Saturday

Source: The Manila Times
14 Mar 2019

LOS BAÑOS, Laguna: The Southeast Asian Regional Center for Graduate Study and Research in Agriculture (SEARCA), in partnership with the Department of Agriculture-Bureau of Agricultural Research (DA-BAR), conducted a training on "Financial Viability and Profitability Analysis of Agricultural Technologies and Enterprises" at the SEARCA headquarters here.

The training, which was for the second batch of participants, focused on 35 individuals engaged in the implementation of various projects and programs related to soybean.

The participants in the training that spanned six days from February 18 to 23 came from state colleges and universities, nongovernment organizations, the regional offices of the DA, and the DA-BAR.

In a statement, SEARCA said the training aimed to provide knowledge and improve the skills of the research personnel from various academic and research institutions in conducting financial viability and profitability analysis.

"The major topics covered were cost and returns analysis, break-even analysis, partial budgeting, break-even budgeting, and financial and sensitivity analyses," SEARCA said.

"The training-workshop was a combination of discussions and laboratory exercises with hands-on experience on computer applications of various analytical tools used in the evaluation of the profitability of processing technologies and enterprises," it added.

In his opening remarks, Nicomedes Eleazar, DA-BAR director, commended the soybean project implementers since the agency he heads had been successful in its projects for the commodity.

"The training is important so participants can share their knowledge and skills in conducting financial viability and profitability analysis for research technical personnel of various academic and research institutions," Eleazar said.

Reiterating that conduct of financial analysis helps strengthen technology commercialization, he said the analysis should be done before the conduct or during the preparation of packaging the project.

Eleazar also encouraged the participants to echo the information and knowledge acquired through the training to their colleagues.

On behalf of Fernando Sanchez Jr., SEARCA Governing Board Chairman and University of the Philippines Los Baños chancellor Nancy Landicho, the agency's program specialist and officer in charge for Project Development and Technical Services, underscored the importance of agricultural technologies in increasing productivity, especially of small and medium-scale agricultural enterprises, which are considered major drivers of Philippine agriculture-based industries.