Sri Lanka government considers halving MOP fertilizer prices
Agriculture and Plantation Industries Minister of Sri Lanka Mahinda Amaraweera has put forth a Cabinet proposal with an aim to reduce the cost of Muriate of Potash (MOP) fertilizer by 50%. The proposal was highlighted by Minister Amaraweera during the launch of the Omara village development in Walasmulla. This initiative is a segment of the second-stage agribusiness village project that was inaugurated on Sunday.
The Cabinet proposal is expected to be reviewed and potentially approved by President Ranil Wickremesinghe in the near future. At present, public sector fertilizer companies maintain a reserve of 28,600 metric tons of MOP fertilizer, as confirmed by the Minister.
It is not yet clear whether this measure will be implemented by subsidizing the cost of fertilizers, or by legislative practice of fixation of retail MOP prices on the domestic market.