THE Department of Agriculture (DA) has ordered the distribution of P510.447 million worth of fuel subsidies to farmers amid the rising cost of petroleum products.
A memorandum order signed by Agriculture Secretary Francisco Tiu Laurel Jr. authorizes the distribution of cash to farmers to financially support them amid increasing fuel costs, the department said on Sunday.
Each farmer in the Registry System for Basic Sectors of Agriculture who owns or rents machinery used in crop, livestock, and poultry production, will receive a fuel subsidy of P3,000.
The subsidies will be distributed through assistance cards issued by the Development Bank of the Philippines and its financial technology partners.
The department said the distribution of subsidies to recipients will depend on the Department of Energy confirming that the average monthly price of Dubai crude oil per barrel has reached $80, using the Mean of Platts Singapore as the benchmark.
Market data from June 3 to July 1 showed that Dubai crude oil prices fluctuated between $78.48 and $86.50, consistently exceeding $80 per barrel.
“This development indicates that the distribution of the fuel subsidy could commence later in July,” the department said.
Tiu Laurel said that the assistance is part of the initiatives by the government to support farmers, who play an important role in ensuring food security.
“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.
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