Senator Juan Miguel Zubiri said he is filing a resolution in the Senate for an investigation into the increase in the price of fertilizer that is hurting farmers, especially in the sugar industry.
They may also seek the Department of Trade and Industry’s imposition of a possible price ceiling on fertilizer, he said in a press conference via Zoom on Thursday, August 12.
The price of fertilizer, especially urea, has increased from P900 to P1,500, he said.
If possible the DTI should have a suggested retail price for urea, Zubiri said.
Unscrupulous traders know that fertilizer is in demand that is why they have hiked the prices by almost double, he said, adding that the farmers are suffering and he will not stand for that.
The sugar block in the Senate will continuously monitor the increase in prices of fertilizer and farm inputs, and the implementation of the Sugar Industry Development Act to help the sugar farmers, he said.
They are also keeping a close watch on the Department of Finance taxation moves so the sugar industry will not be over taxed, he said.*