Dr. Jagdeo announces $300M fertiliser support for Region Six farmers

$300M in fertiliser support will soon benefit Region Six farmers from the government, as efforts continue to cushion the effects of rising cost of living throughout the country.

Vice President, Dr. Bharrat Jagdeo during a meeting at Number 63 Village made this announcement on Friday. “We recognise that fertiliser is a big input into agriculture and particularly into the rice industry, and if people have to spend more on fertiliser, it will cut their profit margins,” Dr Jagdeo said.

He continued, “So we wanted to do something to help and that is why we’ve set aside this sum of money.”  The VP revealed that a 20-member committee was also formed to determine how the fertiliser would be procured and distributed among the farmers.

Dr. Jagdeo disclosed that the establishment of the committee would ensure the equitable distribution of the fertiliser and prevent attempts by persons, who do not qualify for the support, from depriving those in need.

VP Jagdeo said that of the $300M, some $25M will go to cash crop farmers for fertiliser. The Vice President stressed that the government has set aside $1B in fertiliser support for the country, following consultations with farmers.

Dr. Jagdeo explained that even though the government removed the 14 per cent tax that was placed on fertiliser by the APNU+AFC, the prices continue to climb, due to the rise in oil prices.

“So every time crude oil goes up the price of fertiliser and everything else goes up and oil prices have moved from $28 in 2015 per barrel of crude oil to $120 per barrel. So it’s a steep climb… It’s largely been because of the war in Ukraine,” Dr. Jagdeo disclosed.

The VP related that government has also removed the taxes on gasoline and diesel, from 50 percent to zero. As such, Dr. Jagdeo pointed out that external factors continue to affect prices.

The former president argued that COVID-19 pandemic and the ongoing Russia/Ukraine war have affected the global supply chain, which has resulted in spikes in commodity prices across the world. Vice President Jagdeo, however assured that the government will continue to provide the necessary assistance in the agriculture sector to minimise the impact on farmers.