The Colombian government is exploring ways to reduce the cost of agricultural inputs, which currently represent 30% of expenditures in the agricultural sector, and 50% of livestock, local media reported Thursday.
In an effort to increase economic benefits for farmers where resource expenditure in the agricultural sector currently represents 30% of the cost, the Ministry of Agriculture says it will analyze the viability price negotiations with suppliers, access to international markets, and the potential benefits of importing raw materials, reported Colombia’s W Radio.
Another possibility is to access international markets such as Russia, which has trade restrictions with the US and Europe due to ongoing conflicts.
“We can sell food [to Russia] and have them pay us with inputs or raw materials to produce them,” Minister Valencia Iragorri told W Radio.
Iragorri also noted that Colombia could look into importing cheap petroleum-derived ferilizer from Venezuela.
The newly appointed Minister announced on Wednesday that he will lead a joint effort between business sectors, farmers, and rural residents to achieve the government’s goal of “transforming the countryside.”
The key points that Iragorri outlined towards this transformation were ending poverty in the rural sector, establishing credit lines for farmers, and increasing competitiveness in the international market by raising the standards of quality for agricultural products.