Agriculture chief orders release of P510-M fuel subsidy to 160,000 farmers

Agriculture Secretary Francisco Tiu Laurel Jr. has authorized the distribution of P510.447 million in fuel subsidies to approximately 160,000 farmers owning or renting machinery for crop, livestock, and poultry production.

In a statement Sunday morning, the Department of Agriculture (DA) said this initiative is aimed at alleviating the financial strain on farmers due to rising fuel costs.

Under this project, each registered farmer in the department’s database will receive a P3,000 fuel subsidy.

The subsidies will be distributed via assistance cards provided by the Development Bank of the Philippines and its financial technology partners.

The fuel subsidy project is part of the 2024 national budget and will be managed by the Department of Agriculture’s Bureau of Agricultural and Fisheries Engineering and regional field offices.

Agriculture Sec. Francisco Tiu Laurel

... underscored the significance of this assistance project, emphasizing that it forms part of several initiatives led by the Marcos administration to support farmers and ensure food security. (Photo courtesy of DA)

Secretary Tiu Laurel highlighted the project as a crucial initiative under President Marcos’ administration, aimed at supporting farmers who are essential to the country's food security and economy.

"This is just one of the several assistance projects that the Marcos administration provides to ease the burden of our farmers, the unsung heroes of our economy and the main pillar of our food security goal," he said.

The disbursement will begin once the Department of Energy certifies that Dubai price benchmark for crude oil has hit $80 per barrel.

The DA noted that recent market data indicate prices ranging between $78.48 and $D86.50, suggesting subsidy distribution could start later in July.