Connect with us

Hi, what are you looking for?

News

Fertilizer deal being negotiated with various governments

ATLASFERTILIZER.COM

THE Department of Agriculture (DA) said the Philippines is negotiating with various countries a government-to-government fertilizer supply deal, with a target signing date of January.

“We are still finalizing the volume in the coming days. Hopefully we will be able to close the deal within January,” Agriculture Assistant Secretary Arnel V. de Mesa said during the DA’s yearend briefing on Monday.

Mr. De Mesa said the negotiations are taking place with several countries, which he did not identify.

“We are looking at all countries, the President said we need to get the least-cost fertilizer. We need to secure the transaction to ensure that by the time we need it, prices won’t go up,” he said, referring to the planting season, where fertilizer will be in demand.

In July, President Ferdinand R. Marcos, Jr., who concurrently serves as the Agriculture Secretary, said that the government is planning to pursue government-to-government deals with top suppliers of fertilizer such as China and Russia.

“This is not yet final. We are considering all countries, which one will be the most advantageous for the government,” he said.

He said that the fertilizer should be landed before the wet season begins.

“For government-to-government deals, we hope to close it at a lower cost and higher volume,” he added.

According to the Fertilizer and Pesticide Authority, the average price of urea, which is the most commonly-used fertilizer, sold for P2,538.27 per 50 kilograms in the Nov. 7-11 period.

Mr. De Mesa said the DA is considering a voucher-based distribution scheme for the fertilizer obtained through the deal.

“It could be mixed, the one that we will be distributing is either through vouchers because we have already identified the farmers through RSBSA (the Registry System for Basic Sectors in Agriculture). Once the fertilizer is released, this can also be distributed through grants,” he said.

In October, the DA said it added P4.1 billion to the government’s fertilizer subsidy program to help cushion the impact of higher prices. — Ashley Erika O. Jose

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Editor’s Pick

<?xml encoding=”utf-8″ ??> Ava Whetstone-Magee, the founder of Avalanche Equestrian talks about the lightbulb moment which led her to start her business at the age...

Editor’s Pick

<?xml encoding=”utf-8″ ??> The exodus of workers from the jobs market over the pandemic has weakened prospects for Britain’s economic growth, the governor of...

Editor’s Pick

<?xml encoding=”utf-8″ ??> Will Polston, talks to Business Matters about how helping ambitious owners to maximise their potential has resulted in him becoming a finalist...

News

Elon Musk talks about his company’s Starlink project at the Mobile World Congress, Barcelona, Spain, June 30, 2021. — BRISA PALOMAR / PACIFIC PRESS/SIPA...

News

PHILSTAR FILE PHOTO The National Economic and Development Authority (NEDA) has approved seven “high-impact” projects, ranging from agriculture to transportation, the agency’s top official...

News

Television (TV) advertising is shifting toward addressable TV, a service that allows advertisers to show different ads to different audiences watching the same program,...

You May Also Like

News

COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

News

REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...

News

BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...

News

KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

Disclaimer: Respect Investment.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.