SADER, SHCP and FIRA-Bank of Mexico present support measures to mitigate fertiliser price volatility

SADER (Secretary of Agriculture and Rural Development), SHCP (Secretary of Finance and Public Credit) and FIRA (Trust Funds for Rural Development)-Bank of Mexico presented support measures to mitigate the adverse economic effects of rising fertilizer prices on food production costs. These measures will be implemented as incentives and financing advantages so that farmers with viable projects can speed up the contracting of credits that include the consolidated purchase of fertilizers and inputs as investment concepts. Likewise, support measures will be included in the reduction of the interest rate of up to 1 percentage point for producers who, being subject to credit, require working capital, advance loans, refinancing and leasing operations for fixed investment, among other concepts, which involve the acquisition of biofertilizers. The aim is to improve agricultural profitability with technology transfer and advice on fertilizer dosage, the use and management of biofertilizers, and agro-ecological practices, as well as for nutritional monitoring technology and the acquisition of specialized machinery for optimal fertilization.