The Philippine government is planning to procure cheaper fertilizers from China which will be given to Filipino farmers for free. | DYGalvezINQ
She said the government-to-government agreement was cheaper than the current $650 MT.
The Office of the Press Secretary said the fertilizers will be given to local farmers for free to support them and lower the prices of food products. A memorandum of agreement between PTIC and DA is currently being drafted, which is a basic requirement for the PTIC importation plan, according to the OPS.
Another requirement for PTIC’s fertilizer importation is a sovereign guaranty from the government-owned Landbank for a P1 billion credit line.He likewise directed Finance Secretary Benjamin Diokno to extend the sovereign guaranty to PTIC’s credit line from the Landbank. “I will also ask LandBank to allow DA to use its idle warehouses for the stockpiling of fertilizers,” Marcos said, as quoted in the OPS press release.that will be given to farmers for free. With the lowered cost, Malacañang said the DA could buy around 2.277 million bags of urea which will be distributed to farmers through farmers’ groups and cooperatives.RELATED STORY
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