Jeonnam Province to Continue Subsidizing Mineral Fertilizer Price Increases

Achievement of Requests to Government and National Assembly
Farmers Expect Relief from Management Cost Burden

Jeollanamdo Province will continue to promote the mineral fertilizer price subsidy and supply stabilization support project this year. Provided by Jeonnam Province

Jeonnam Province announced on May 7 that it will continue to promote the mineral fertilizer price subsidy and supply stabilization support project this year, following last year.

This project, which has been implemented since 2022, aims to reduce the management cost burden on farms. Under this initiative, the National Agricultural Cooperative Federation (Nonghyup) sells mineral fertilizers to agricultural businesses at a discount, covering 80% of the price increase. The government, local governments, and Nonghyup share the subsidy costs after the sale.

To secure national funding for 2025, Jeonnam Province made 17 visits to the Ministry of Agriculture, Food and Rural Affairs, the Ministry of Economy and Finance, and the National Assembly from September last year to April this year. During these visits, the province continuously explained the necessity of the project and requested state support, resulting in the inclusion of 25.5 billion won in national funds (nationwide) in the government's supplementary budget.

Considering the necessity and urgency of the project, Jeonnam Province has pre-allocated both national and provincial funds, and plans to proceed with the project as soon as the Ministry of Agriculture, Food and Rural Affairs notifies the mineral fertilizer budget. The total project budget for Jeonnam Province is expected to be around 18.3 billion won (based on the secured national funding), and the province plans to implement the project to alleviate the burden of farming and management costs on local farms.

Park Hyunsik, Director of the Agriculture, Livestock and Food Bureau of Jeonnam Province, stated, "The production costs for agricultural products are rising, and mineral fertilizer prices continue to increase, so it is necessary to support the purchase cost of mineral fertilizers to encourage farmers' motivation. We will continue to pursue various policies to reduce the management cost burden on farmers so that they can farm with peace of mind."

This content was produced with the assistance of AI translation services.