PUBLIC ANNOUNCEMENT: Applications for the 'Agricultural Export ...

19 November 2012? TONGAN | The Ministry of Finance & National Planning hereby invite applications from agricultural produce exporters to the ?Agricultural Export Marketing Fund'.

The purpose of the Fund is to provide a short term loan to exporters that buying exportable commodity from farmers. The underpinning rationale for the fund is to alleviate growers risk exposure to external marketing shocks such as fluctuation in exchange rate, post harvest lost due to freights etc. Agricultural exporters, especially from electoral constituencies, representing their farmers are encouraged to apply. Produce that the Fund will give priority to are taro, tapioca, watermelon, and yams. Export of squash pumpkins is not included. Criteria for Accessing Agriculture Funds Applicants must provide documented proof of;

1. Obtainment of the required export & business licenses.

2. Proven import market in the destination country (with first focus on NZ, Australia, other Pacific Island Countries and the USA).

3. Preference of export proceeds paid direct to the fund to settle amount lent.

4. Preference given to proven export record of at least three (3) years.

5. A clear business plan which will include its direct and indirect contribution to economic sector in terms of :

a. purchase of produce from a net work of growers; (added consideration will be given to the number of growers and their distribution across the Kingdom)

b. employment creation and other economic benefits.

6. Approved information on logistics, farmers, production, harvest time, quality control with compliance with quarantine, requirement of importing countries.

7. The market and guaranteed demand overseas, with prices and quantities of each product (particular support to watermelon, taro, ufi/yams and tapioka, but other products may be considered, particularly if there is some value added to the raw materials).

8. A budget listing:

a. The expected revenue based on the market demand;

b. Quote for freight, insurance and all other costs for delivering the produce;

c. Commission and any other charges to be added by the exporter; and

d. Any other related costs and revenue associated with this export.

9. Banker's statement that they are of good standing.

10. Ability to pay 1% administration charge.

11. Ability to repay the amount lent within 30 days.

12. Ability to arrange definite means of repayment of the amount lent (including letter of credit and other means of security).

13. Status as approved exporter under the Fund will be cancelled if any of the approved conditions are breached.

For more information regarding the application to this fund, please do contact the Secretary for Finance & National Planning, Ministry of Finance & National Planning, for details. All applications shall be submitted in writing and addressed to the Secretary for Finance & National Planning, Ministry of Finance and National Planning, Nuku'alofa, no later than 4.30pm, Friday, 23rd November, 2012.

ENDS

Issued by: Ministry of Finance & National Planning, Government of the Kingdom of Tonga, P.O. Box 87, Nuku'alofa. Telephone: (676) 23 066 Fax: (676) 24 040 Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it Press Release dated 9 November 2012

Source: http://www.mic.gov.to/news-today/press-releases/4135-public-announcement-applications-for-the-agricultural-export-marketing-fund

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