By Prince Golez
President Ferdinand Marcos Jr. has secured business agreements with China to lower fertilizer prices, a critical component of his administration’s efforts to assist farmers and ensure food security.
During a roundtable discussion with agribusiness CEOs in Beijing, China on January 5, Marcos Jr. expressed gratitude to two Chinese fertilizer manufacturing firms that signed a cooperation agreement with the Philippine International Trading Corporation to ensure a sustainable supply of much-needed fertilizers at reasonable prices.
“We look forward to a steady supply of fertilizer inputs needed by our farmers through these agreements,” according to him.
The President lamented that the cost of agricultural inputs, particularly fertilizers, has “become prohibitive and unaffordable for our local farmers.”
“Providing sustainable and affordable supply of inputs such as fertilizers and seedlings has become more difficult, given global economic challenges, as we have all seen in the supply chain problems that we have encountered,” he added.
Marcos Jr. said that one strategy to address this is to establish cooperative agreements with suppliers so that the government can buy these inputs in bulk and sell them to farmers at a lower price.
During the meeting, the Chief Executive also stated that the Philippine economy is still strong and improving.
“I assure you that the Philippine government is committed to support your business activities in the country. The Philippine economic management team, including the Department of Agriculture, will serve as your focal points of contact for any concerns regarding doing business and expanding your commercial footprint in the Philippines,” he told Chinese business leaders.
Marcos Jr. likewise encouraged them to consider the Philippines “as a valuable contributor to their global businesses and as a partner in rebuilding the economies of both our countries.”
“Our partnership is critical in adapting and recovering from the pandemic. So together, I think that we can build a more resilient and sustainable economy,” he also said.
His state visit to China has also secured US$2.09 billion in purchase intentions for local fruits such as durian, coconut, and bananas.
