Additional 4.5 Per Cent Cut In Fertiliser Price By Newport-Fersan

The nation’s farmers are to see an additional 4.5 per cent cut in the price of fertiliser, starting Thursday (June 23), by Newport-Fersan Jamaica Limited.

The move brings to about 19 per cent, the total reduction in the cost of the key agricultural input to farmers, by the company, over the course of a month.

In May, Newport-Fersan implemented a 14.5 per cent maximum reduction in the price of fertiliser, particularly those with urea content.

Minister of Agriculture and Fisheries, Hon. Pearnel Charles Jr., who made the announcement at a media briefing at the Ministry’s offices in Kingston, said that the move supports the Ministry’s ‘Grow Smart Eat Smart’ campaign.

“Today, we express gratitude to one of our strongest partners, who has shown the authentic effort to help your partnership with the Ministry and to benefit small farmers,” he said.

In recent months, there have been concerns over the price increases in fertiliser and other agricultural inputs, due to supply chain disruptions as a result of the COVID-19 pandemic and the Russia-Ukraine crisis.

Minister Charles Jr., said that consumers have often bemoaned that when prices are increased due to challenging times, they rarely are brought down “even when things globally are getting better”.

“So today, we are not only making an announcement [but]we are pronouncing that this Ministry and our primary partners… are working together to build confidence in systems, to let you know that when we announce to you that we have to increase, it’s authentic.

And when things are getting better, we will move expeditiously to relieve the stress and pain from you,” he pointed out.

He noted, for example, that with the reduction, the Green Plus Blend, which costed an estimated $6,140 in April, was reduced to $5,080 in May and with this month’s price cut will now cost $4,850.

“This is the kind of trend that we want to support and that we hope continues,” the Minister said.

Newport-Fersan’s Managing Director, Dennis Valdez, said that “this [reduction] is going to go across the board in a range of fertilisers… [It is] a reflection of the nitrogen price that is trending down”.

He is hopeful that the lowering in fertiliser costs will create a domino effect and bring some amount of ease to the country’s agricultural sector.

“I hope that this is extended across the board, in terms of this new level of prices reaching to the end user, who is the one that actually pays for all these things,” he said.