NewsWhore
05-07-2008, 02:10 PM
Farmers are facing a 24% reduction in the amount of credit that is available to them. That, however, is not all. They are also facing price increases in everything that goes into producing a crop. According to Listin Diario's Jairon Severino, farming supplies have increased by anywhere between 40% and 119% over the past 15 months. For example, in January 2006 the price of a gallon of diesel fuel was RD$96.80, while today it is pegged at RD$156.40, an increase of RD$59.60, or 61.5%. The most popular fertilizer, 15-15-15, has gone up from RD$496.60 for a 100-pound bag to RD$1,086.82, an increase of 118%. In the livestock sector similar increases in corn prices, soybeans and other feeds have increased from between 40% and 60%. The Agro-Business Board (JAD) is asking the government to reduce the cost of diesel fuel by targeting a special tax-free fuel program at farmers. The JAD also wants the government to give more capital to the Agriculture Bank in order to finance more crops.
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