Hyderabad-based Prasad Seeds is tapping Philippine rice seed technology and joining the proposed hybrid rice production program of the government.
Prasad consultant for export marketing William Dar said the company would take part in the program, committing at least 10 percent of the hectarage sought for hybrid rice farming for a very competitive price.
“I understand that the government will be targeting almost half a million to be devoted to hybrid rice production. Prasad is just starting seed production in the Philippines, but we are willing enough to provide support to the program,” he said.
The company plans to produce at least 1,000 metric tons of seeds to cover as much as 50,000 hectares, or 10 percent of the half-a-million hectare rice farm that will be devoted to hybrid farming.
Prasad plans to use hybrids developed by the International Rice Research Institute.
Dar stressed the seeds would not be imported nor genetically modified.
He added the initial production would be devoted to Philippine requirements and go for seed exports as soon as the company had an excess capacity.
“We wil revisit our business plan. We plan to export in due time once we have the confidence” Dar said.
Prasad is in talks with other countries discussing plans on the seed processing side of the business.
It has reached an agreement with Syngenta Philippines for seed production for local marketing.
Sygenta provides Prasad the parent line necessary to produce commercial hybrid seeds for planting.
Prasad has been producing seeds in India in the last 30 years, starting with hybrid corn.
Seed production will start in October 2016 until January 2017 at the Prasad farm in Pangasinan province.
Provincial board member Ranjit Ramos-Shahani promised to create a provincial ordinance granting Prasad Seeds a five-year exemption from real estate taxes.
Earlier, Prasad Seeds sought pioneer incentives from the Board of Investments for its corn seed-processing facility.
Prasad Seeds is a global company headquartered in Hyderabad, India.