Palace: PH, China deals to lower fertilizer prices

Malacañang announced that business agreements forged by President Ferdinand R. Marcos Jr. with Chinese companies are expected to lower fertilizer prices, a move aimed at supporting farmers and bolstering food security.

Two Chinese fertilizer manufacturers have entered into a cooperation agreement with the Philippine International Trading Corp. (PITC) to guarantee a consistent and reasonably priced supply of fertilizers.

President Marcos highlighted that the cost of agricultural inputs, particularly fertilizers, has become prohibitively expensive for local farmers.

He explained that establishing cooperative agreements with suppliers would enable the government to purchase inputs in bulk and subsequently offer them to farmers at a reduced cost, addressing global economic challenges and supply chain disruptions.