Cassava farmers and nearby communities in Oyo State have received significant support through an N600 million out-growers scheme, offering them essential resources like cassava stems, agricultural loans, and other vital inputs to boost productivity and sustainability.
The scheme was initiated by Psaltry International, a prominent cassava processing company based in the Iseyin Local Government Area of Oyo State. The company’s Chief Executive Officer, Yemisi Iranloye, emphasized that the initiative aims to establish a sustainable agribusiness ecosystem in the state. In a recent statement, Iranloye responded to criticisms alleging payment delays to farmers and addressed accusations about transparency in the weighing system. She explained that a formal payment plan, detailed in a long-standing memorandum of understanding, governs all transactions with farmers, dismissing claims of payment defaults.
Regarding the alleged issues with payments and weighing transparency, the company stated that these assertions were misleading. Psaltry International clarified that it invests over N1 billion annually to purchase cassava from three key supplier groups, prioritizing a transparent and community-centered business model.
“Psaltry is responding to a recent blog post suggesting that cassava farmers in Oke-Ogun would cease selling cassava to the company due to delayed payments, lack of transparency, and minimal community benefits. This accusation stems from misinformation,” stated Iranloye. “Our company is committed to fostering sustainable agriculture that benefits both the business and the local communities, a commitment we have upheld over the past 15 years.”
Psaltry International outlined its structured approach to sourcing cassava:
- Out-Grower Farmers: These farmers receive pre-funding, enabling them to access essential resources and inputs for cassava production.
- Remote Area Traders: The company pre-funds traders to source cassava from distant locations, ensuring that farmers in hard-to-reach areas can participate in the supply chain.
- Trained Independent Traders: Experienced traders, previously trained by Psaltry, now independently supply cassava, contributing to a robust and diversified supply chain.
Through these initiatives, Psaltry International has provided over N600 million worth of cassava stems, herbicides, and agricultural loans to out-growers in Oyo State, underscoring its commitment to supporting local agriculture and economic development.
