Contract Farming Initiative (COFI):COFI is simply an agreement between farmers and Agro-Park for the production and supply of agricultural products under forward agreements, frequently at predetermined prices. The arrangement also invariably involves Agro-Park in providing a degree of production support through, for example, funding, supply of inputs, and the provision of technical advice. The basis of such arrangements is a commitment on the part of the farmer to provide a specific commodity in quantities and at quality standards determined by Agro-Park and a commitment on the part of Agro-Park to support the farmer’s production and to purchase the commodity. The intensity of the contractual arrangement varies according to the depth and complexity of the provisions in each of the following three areas:
1. Market Provision: The farmer and Agro-Park agree to terms and conditions for the future sale and purchase of a crop or livestock product.
2. Resource Provision: In conjunction with the marketing arrangements Agro-Park agrees to supply selected inputs, including on occasions land preparation and technical advice.
3. Management Specifications: The farmer agrees to follow recommended production methods, inputs regimes, and cultivation and harvesting specifications.
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