00:00Rising fuel costs triggered by the raging war in the Middle East have heavily impacted the price of fertilizers,
00:06which the country imports at a volume of 141 metric tons from Qatar and Bahrain.
00:12Little wonder, fertilizer prices have surged 30% since the last two weeks,
00:17which behooves the country to seek sources elsewhere on the planet.
00:20As we hear more from our Mary-Vell Custodio.
00:25President Ferdinand R. Marcos Jr. urged local government units to temporarily remove pass-through fees
00:32on vehicles transporting agricultural products and essential goods.
00:37This aims to ease further price increase amid global economic pressures.
00:42According to the president, he received reports that some barang guys are still collecting such fees per sacks of rice
00:49and per vehicle.
00:50In line with this, the president also said that the Department of Agriculture, or DA, will distribute subsidies to farmers
00:58and fisher folks.
00:59During the hearing of the House Committee on Agriculture and Food,
01:03it was reported that more than 4 million farmers and fisher folks will receive financial assistance from DA next month
01:10and in May amid the continuous rise in petroleum product prices.
01:14We note that the Department of Agriculture is mobilizing available resources including the 10 billion under the Presidential Assistance for
01:25Farmers and Fisher Folk
01:26in the 2026 General Appropriations Act for direct support as well as the remaining 150 million in fuel subsidies from
01:35the 2025 budget.
01:37More than 14,400 farmers will receive 5,000 pesos each while over 15,600 fisher folks will get 3
01:47,000 pesos each from the Presidential Assistance for Farmers Fund.
01:51The mode of distribution will be, for the farmers, these are specifically the rice farmers who already have an Interventions
01:58Monitoring Card.
01:59The distribution of the assistance will be deposited directly to their accounts through TopUp.
02:05And for those who have not yet have an IMC, the distribution will be handled through unorganized caravans,
02:12specifically also for the issuance of IMC cards.
02:16This effort is in line with the directive of the Honorable President Ferdinand Bongbong Marcos Jr.
02:22to strengthen food security and ensure that the government remains proactive in addressing external risks to the Philippine economy.
02:32Meanwhile, fertilizers imports are also being heavily affected by tensions in the Middle East.
02:38Global fertilizer prices have risen by 30% following the closure of the Strait of Hormuz,
02:45prompting the need to diversify sources, particularly for nitrogen-based fertilizers or urea.
02:51The Philippine imports 108,000 metric tons fertilizers from Qatar and 33,000 metric tons from Saudi Arabia,
02:59which are both affected by tension between the U.S. and Iran.
03:03As a solution, the agency is now diversifying fertilizer sources from various countries to mitigate the impact of Strait of
03:11Hormuz closure.
03:12This includes coordination with the Ambassador of China for fertilizer importation.
03:18Vel Custodio for the National TV Network for a new and better Philippines.
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