DA seeks P40B amid oil crisis
Up to P40 billion may be required by the Department of Agriculture for additional funding to sustain support programs and prevent further strain on food production. Most of the proposed allocation — 30 billion will go to farmers for fertilizers, seeds and other critical inputs, while P10 billion will be allocated for fisherfolk
DEPARTMENT of Agriculture Secretary Francisco Tiu Laurel warns that rising fuel costs could translate to about two million metric tons in reduced production, as higher oil prices continue to drive up farm inputs and transport costs. The agency has begun rolling out financial assistance but Tiu Laurel said there would be a need for additional funding if the MidEast crisis is prolonged.
PHOTOGRAPH courtesy of Philippine News Agency
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