Jeongeup-si Supports Farmers with 'Mineral Fertilizer Purchase Cost' Assistance

Published 04 Oct.2022 14:15(KST)

[Jeongeup=Asia Economy Honam Reporting Headquarters Reporter Kim Jaegil] Jeongeup City in Jeonbuk Province will provide emergency support to stabilize the management of local farms facing difficulties due to rising prices of agricultural materials.

The city announced on the 4th that it plans to support 80% of the price increase of mineral fertilizers for farmers struggling to purchase fertilizers due to the rise in mineral fertilizer prices.

Support is available for mineral fertilizers purchased from January 3 of this year until December 10.

80% of the price increase will be shared by the national government, province, city, and Nonghyup respectively, with farmers only bearing 20% of the cost.

The support targets are agricultural management entities registered with agricultural management information, specifically farmers using mineral fertilizers on farmland registered under their agricultural management entity information.

These farmers can purchase mineral fertilizers contracted between Nonghyup Economic Holdings and fertilizer manufacturers at a price pre-deducted by 80% of this year's average price increase by visiting their usual Nonghyup branch without a separate application.

The support quantity per farmer is limited to within 95% of the average mineral fertilizer purchase volume over the past three years to prevent soil acidification and river eutrophication caused by excessive use of mineral fertilizers.

The total support quantity for the city is approximately 14,062 tons, amounting to about 8.16 billion KRW (with 1.14 billion KRW from city funds).

An official from the Agricultural Technology Center said, "Local farms are experiencing many difficulties due to the sharp rise in mineral fertilizer prices," and added, "We hope this mineral fertilizer support will help reduce the management cost burden on farms."

Meanwhile, mineral fertilizers refer to fertilizers supplied (sold) to agricultural management entities through contracts between Nonghyup Economic Holdings and fertilizer manufacturers.