Rice Farming with Singapore Agritech (SGAT)
About The Project
We have partnered with SGAT in a joint venture to farm brown rice in Kampong Thom, Cambodia. The project which is for just under USD70,000 is partly funded by an interest free loan from one of our members. The project entails farming on 100 hectares of land for an initial term of 3 years and SGAT shall provide complete farm management, supply of quality rice seeds and buy back of the harvest at an agreed price. Profit sharing is 60% to BFL and 40% to SGAT for the first season and 80:20 thereafter. We project that the estimated payback period is about 3 years. The project was evaluated based on the BAMBOO methodology with the following 4 criteria:
1. Projects must add to the local ministry of MMS.
2. Projects must have a high level of support from ministry staff and have as wide a social impact as possible.
3. Projects must be financially viable and as far as possible, self sustaining.
4. In the event of conflict, ministry shall have prior consideration above financial attractiveness.
The ministry aspect involves the employment of Jack, an enthusiastic Christian who had lived and grown up in COSI, to be the Project Leader. Jack had been trained by SGAT in their farming method. Over time a portion of the project profit will be given to Jack as capital for his own rice farming. Part of the requirement on Jack is to live out the Christian values in dealing with the people he oversees, and be accountable to the local MMS ministry leadership.