Zubiri to file Senate resolution to probe fertilizer price hike
FILE PHOTO: Senate Majority Leader Juan Miguel Zubiri (Voltaire F. Domingo/Senate PRIB)
BACOLOD CITY—Senator Juan Miguel Zubiri is filing a resolution in the Senate to investigate the increase in the price of fertilizers.
He may also ask the Department of Trade and Industry (DTI) to impose a possible price ceiling on fertilizer.
“The price of fertilizer, especially urea, has increased from P900 to P1,500. If possible, the DTI should have a suggested retail price for urea,” said Zubiri in a virtual press conference with the Bacolod media.
Zubiri said unscrupulous traders know that fertilizer is in demand that is why they increased the prices of fertilizers by almost double.
The sugar block in the Senate would continuously monitor the increase in the prices of fertilizer and other farm inputs, and the implementation of the Sugar Industry Development Act, to help the farmers, he said.
“We are also keeping a close watch on the Department of Finance taxation moves so the sugar industry will not be over-taxed,” he said.
