Local Farmer have again been assured that they will benefit from a discount on the landed price of fertilizer on the pending shipment.
This assurance has come Minister of Agriculture, Saboto Caesar.
A release from the Ministry of Agriculture says the Russia/Ukraine conflict has caused a significant increase in the price of fertilizer globally.
The Ministry noted that the local Agricultural Input Warehouse has subsidized the cost of fertilizer for farmers for several years, in an effort to reduce the cost of production in the agriculture sector.
It assured that the Government of St. Vincent and the Grenadines will be providing a further subsidy to ensure that the cost of fertilizer remains affordable.
The Ministry outlined the difference between the current landed cost and selling price for “ordinary manure” (NPK), Urea, Vegetable Fertilizer and Sulphate of Ammonia;
Landed cost- $149.59
Selling Price- $95.00
Discount- $54.59 (36%)
Landed cost- $177.67
Selling price- $105.00
Discount- $72.67 (41%)
Landed cost- $125.73
Selling price– $95.00
Discount – $30.73 (24%)
Sulphate of Ammonia
Landed cost- $95.73
Selling price- $75.00
Discount- $20.73 (22%)
The Ministry of Agriculture says, owing to the changes in prices on the global fertilizer market, the Government’s subsidy will be addressed on a shipment-by-shipment basis.
The Ministry also noted that Farmers of St. Vincent and the Grenadines have benefited from direct Government interventions over the last three years. It pointed out that these initiatives include:
Tractor Services; Seeds and seedlings; Fertilizer Support; Marketing (through the Love Box); and Farm Infrastructure Rehabilitation.
The next fertilizer shipment is expected to arrive in St. Vincent and the Grenadines before the end of this month.