LatinNews Daily - 18 July 2022

* Peru’s government led by President Pedro Castillo has extended by 167 days a state of emergency in the agricultural and irrigation sector, which was first announced in March. According to the government, this measure aims to prevent the vulnerable situation of small-scale agricultural producers from worsening in the 2022-2023 agricultural season and has also been extended due to food security issues faced by the population. The government said that the price of fertilisers, which are mostly imported, continues to rise, with significant impacts on agricultural producers. It also highlights that the Ukraine war has accentuated price rises in major commodities such as oil, wheat, corn, and soybean oil. Peru’s agrarian development ministry (Midagri) has also announced that it will propose the approval of a loan to subsidise fertilisers for producers of up to 10 hectares of crops to ensure they have sufficient supplies for the 2022-2023 season. Midagri said that the process of acquiring PEN348m (US$89m) of urea, a type of fertiliser, is already under way to meet the requirements of producers who use this fertiliser for cultivating less than five hectares of crops.

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