NewsWhore
07-14-2008, 02:30 PM
The government of Venezuela will sell the Dominican Republic and other Caribbean nations 100,000 tons of urea, a major fertilizer used for agriculture. The urea will be sold at a 40% discount and with easy re-payment conditions, basically as the crops come in. Hugo Chavez, the host of the V Extraordinary Summit of the PetroCaribe Nations made the announcement yesterday, as part of what he calls the "PetroFood" plan which will put US$480 million to promote agriculture in Caribbean countries. This initiative is just one in a series of programs aimed at helping the 17 PetroCaribe nations face the challenges of the high oil prices on the world markets.
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