In light of increasing fertilizer prices, a taskforce has been set up to work with importers of the product and government is seeking to approach countries that produce urea in an effort to break price distortions.
Agriculture Minister, Robert Persaud met importers at the Ministry yesterday to discuss the price increase and its effects on farmers and urged them not to exploit the farmers, a Government Information Agency (GINA) release said.
According to the release, representatives of T. Geddes Grant, Cyril Singh and Nand Persaud said there has been a local increase as a result of a sudden rise in the fertilizer price on the international market.
It quoted Persaud as stating that the government is taking measures to address this situation and a taskforce has been set up to work with importers.
He said that suppliers who have control in the region ultimately have control of the prices and since there is no free trade arrangement on fertilizers entering the country, there is great distortion in prices.
The minister said that government will try through its bi-lateral partners to approach countries that produce urea in an effort to break the distortion. He noted that efforts were made earlier to provide credit to the Rice Producers Association to enable it to source fertilizers from alternative locations but that was unsuccessful.
Persaud said though it is understood that there is an international increase in the price of fertilizers the situation should not be exploited locally. He declared that the ministry is also prepared to take legal action against some distributors “who are said to be holding back supplies from farmers”. The minister stated that the ministry prefers to deal with companies instead of resorting to this alternative.
In was noted that efforts will also be made to acquire fertilizers at reasonable prices through GuySuCo by making arrangements for bulk purchases, GINA said, adding that in the rice industry 9000 tonnes of Triple Super Phosphate is required for production.
