Newport Fersan decreases fertilizer prices by 4.5 %
Minister of Agriculture, Pearnel Charles Junior, says fertilizer company Newport Fersan will be cutting the cost of a range of fertilizers by 4.5 percent effective Thursday..
He made the announcement while speaking at a media briefing to address issues surrounding fertilizer prices and its availability.
Newport Fersan is one of the country’s largest suppliers of fertilizer.
The announcement comes as fertilizer prices continue to increase globally due to the ongoing war in Ukraine.
According to the minister, this the second time in a month that the company has rolled back fertilizer prices.
He said the move is to support the government’s “Grow Smart, Eat Smart” campaign.
He underscored that the partnership with Newport Fersan is a steady and deliberate approach in tackling the crisis.
Mr Charles Junior noted that the initiative is to build back consumer confidence and to ensure that the benefit is also applied to the customers when situations change.
And Managing Director of Newport Fersan Dennis Valdez said the reduction in prices is to aid farmers and promote food security.