“n
In a new demonstration of President Luis Abinader’s commitment to food security, national production, and the protection of the family economy, the Dominican government extended the fertilizer subsidy program through an additional investment of over RD$1.09 billion, raising the resources allocated to this initiative in favor of the Dominican countryside to RD$2.151 billion.
n” “nThe new agreements were signed at the Ministry of Agriculture headquarters by Minister Francisco Oliverio Espaillat together with representatives of companies importing raw materials for fertilizers and manure, both large and small, with the aim of guaranteeing the availability of these inputs at affordable prices, strengthening national production, and avoiding pressure on food prices.
n” “nThe new allocation will be in effect until next August 31st, extending the period contemplated in the previous agreement by an additional fifteen days, as part of the measures adopted by the Government to face the effects of international market fluctuations and protect the agricultural sector.
n” “n“With this new allocation, the Government will have earmarked RD$2.151 billion for fertilizer subsidies, which demonstrates President Luis Abinader’s firm commitment to the agricultural sector during complex times for the global economy. These subsidies have been vital not only to guarantee the stability of fertilizer prices, but also to preserve the stability of the basic food basket and protect the pockets of Dominican families,” stated Minister Francisco Oliverio Espaillat.
More Read
The official highlighted that the Dominican Republic is among the few countries whose producers receive direct subsidies of this nature to face the increase in international costs of agricultural inputs, allowing the sector’s competitiveness to be maintained and preventing such increases from being passed on to the final consumer.
One of the agreements was signed with the main companies importing raw materials for fertilizers in the country: Ferquido, Fersan, and Adobon, companies that also participated in previous agreements and have played a fundamental role in guaranteeing the timely supply of inputs to the national agricultural sector.
n” “nSimilarly, the Ministry of Agriculture renewed agreements with eleven small importing companies, expanding the scope of the initiative and strengthening the capacity for fertilizer distribution throughout the national territory, for the benefit of thousands of agricultural producers.
More Read
The authorities highlighted that the continuity of this strategic alliance between the Government and the private sector has allowed for reducing the impact of international market volatility, guaranteeing the supply of fertilizers during periods of highest demand, and preserving the stability of the country’s main agricultural products.
n” “nThe Ministry of Agriculture emphasized that these measures are part of the comprehensive policy promoted by President Luis Abinader to strengthen food security, support national producers, and ensure that the population continues to have access to quality food at reasonable prices.
n” “nRepresentatives of the participating companies valued the continuity of the program and agreed that coordination between the public and private sectors constitutes an essential tool to guarantee the sustainability of agricultural production and the stability of the national food market.
n” “nn”
