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April 14, 2024
Agribusiness Featured

Government price support initiative is blessing to farmers

The Papua New Guinea government has brought forth two major incentives that are the commodities price support and the freight subsidy scheme.  In the year 2021, the Department of Agriculture and Livestock received major backing from the Marape Government approving K50 million towards its program of commodities price support incentives.

An additional K150 million allocation for Agriculture Price Support Program come 2022 has been welcomed with great enthusiasm by the Department of Agriculture and Livestock.

The Price Support Program was initiated to support prices of commodities (cocoa, coffee, vanilla, rubber, livestock, oil palm, rice, copra and fresh produce). This program will see farmers directly benefiting from increased prices of agriculture commodities.

Government also presented a funding of K3 million to BML
The agreement means farmers and suppliers of fresh produce and vegetables in the Highlands region and Morobe can ship their produce from Bismark’s Lae port to Port Moresby free of freight charges for duration of six months.

Source: postcourier.com.pg

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