Manila: The Department of Agriculture (DA) is exploring the possibility of securing additional funds to support farmers and fishers amid rising global oil and fertilizer prices. During a Senate hearing on Wednesday, Agriculture Secretary Francisco Tiu Laurel Jr. said the agency needs PHP96.1 billion to address the increasing production costs of rice, corn, high-value crops (HVC), fisheries, and livestock sectors.

According to Philippines News Agency, the DA has available funds from its own budget amounting to PHP28 billion, which includes PHP8 billion in savings anticipated for 2025. Secretary Laurel emphasized that an additional PHP68 billion is required for co-investment, which has been approved in principle by the UPLIFT Committee under President Ferdinand R. Marcos Jr. The Executive Secretary and the Department of Budget and Management have committed PHP45 billion out of the PHP68 billion requirement.

The DA plans to allocate PHP69.6 billion for fuel subsidies for farmers and fishers, with the livestock industry receiving the highest allocation of PHP22.82 billion. The fisheries sector is set to receive PHP20.78 billion; the rice industry, PHP15.2 billion; corn, PHP7.2 billion; and HVC, PHP3.6 billion.

For fertilizer subsidies, the DA aims to allocate PHP26.5 billion, with the rice sector receiving the largest share at PHP12 billion, followed by the corn sector at PHP10.5 billion, and HVC at PHP4 billion.