Philippines seeks guarantees for fertilizer supply – negotiating with China and Russia
Kyiv • UNN
Philippine authorities are negotiating with major fertilizer exporters due to a 40% price increase. A potential shortage threatens rice harvests and banana exports.
The Philippines has intensified talks with key fertilizer producers, including China and Russia, due to the risk of disruptions amid the war in the Middle East. Authorities fear that exporters may not fulfill contracts due to rising prices and logistical problems. This is reported by Bloomberg, writes UNN.
Details
Agriculture Minister Francisco Tiu Laurel said that China has already assured stable supplies, and the country has enough fertilizer reserves until May.
The government is also negotiating with India, Russia, and plans contacts with Belarus to ensure future imports. At the same time, the main problem is not a shortage, but a sharp increase in prices.
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Due to transportation restrictions and rising gas prices, fertilizer prices are soaring – in Southeast Asia, the cost of urea has jumped by approximately 40% since the beginning of the conflict.
Possible impact on food
The Philippines has already purchased about 84% of the necessary fertilizers, but there are no guarantees of their delivery. A potential shortage could hit rice harvests and exports of key commodities, including bananas and coconut oil.
Authorities assure that the food situation remains stable. The country's president said, "there is no need to stock up, and we do not have a shortage of food."