… Supports Out-growers With 600million Cassava Stems, Agric Loans, Others
Ibadan – The Psaltry International Company ltd., a leading African Cassava processing company, located in Iseyin local government, has reaffirmed its drive for a sustainable agribusiness environment in which cassava farmers and neighboring communities will benefit immensely.
In a Press Release made available to journalists in Ibadan on Saturday and signed by the Special Adviser on Special Duties to the Chief Executive Officer (CEO) Mrs. Yemisi Iranloye, Mr. Abolanle Opeyemi, the company believed in promoting farmers capacity and has operated with its stakeholders in the sector with transparency.
The company said this in reaction to a media report criticizing it for delayed payment to farmers, adding that nothing of such happened, as there has been a payment plan according to a memorandum of understanding that has been used for years.
Addressing the accusations of payment defaults and lack of transparency in the weighing system by the publication, the company stated that such claims were far from the truth, stating that Psaltry purchased over ₦1 billion worth of cassava annually from three main segments of suppliers.
“Psaltry is reacting to a so called “exclusive” news story from a blog alleging that Oke-Ogun cassava farmers would no longer sell cassava to the company due to, “delayed payments, lack of transparency in weighing system and no traceable benefits for both community and its indigenes.
“This is clearly the work of mischief makers, our priority has always been to contribute meaningfully to the communities where we operate, we believe that sustainable agriculture and responsible business go hand-in-hand, and our 15-year journey reflects that commitment.
“First, we procure cassava from our out-grower farmers whom we pre-fund, secondly, we source cassava from traders, we pre-fund to reach deep, remote areas where it would be difficult for farmers to bring their produce to us, ensuring that no farmer is left out of our supply chain, thirdly, we work with traders that we have previously trained, who now supply us cassava independently.”
He noted that each of the arrangements involved a business transaction with mutual obligations, where both parties have an understanding regarding payments and commitments.
To foster greater transparency, Psaltry has also committed to publishing regular impact reports, which will highlight ongoing community initiatives and key contributions to the local agribusiness ecosystem. Through these reports, Psaltry will maintain open lines of communication with stakeholders and continue to champion shared growth and sustainability.
