According to the Philippine business mirror on October 25, the Ministry of agriculture (DA) is studying how to help farmers cope with the rising price of chemical fertilizer. Sebastian, Deputy Minister of agriculture, said that additional subsidies could be provided to farmers and the feasibility was being studied. The fertilizer and pesticide administration (FPA) is also exploring the implementation of the recommended retail price (SRP) system for fertilizer products, while supporting farmers' cooperatives to directly import fertilizer. At the farmer level, Da will train farmers in fertilizer management through the soil and water resources administration (bswm) to promote the use of organic and inorganic fertilizers. Da also hopes to reduce agricultural costs by promoting more efficient planting methods (such as direct seeding). The world bank predicts that the average price of urea this year will be US $380 per ton, a year-on-year increase of 66%; The average price of diammonium phosphate will be US $590 per ton, a year-on-year increase of 89%. According to the latest FPA data, as of mid October, the retail price of fertilizer in the Philippines had increased by 100 pesos per bag compared with the price level in mid September.
Source: Economic and Commercial Department of the Embassy in the Republic of the Philippines