Sri Lanka to offer fertilizer subsidy for 2024 Yala season
The Sri Lankan government has announced a comprehensive fertilizer subsidy scheme for the 2024 ‘Yala’ season. Following proposals by the Minister of Agriculture and Plantation Industries, the Cabinet has approved plans to import fertilizers and offer them at subsidized rates to the farming community.
The scheme, executed through the Ceylon Fertilizer Company Limited and the Colombo Commercial Fertilizer Company Limited, aims to provide fertilizers to farmers at prices that are competitive with those offered by the private sector. This initiative is part of the government’s broader effort to ensure that farmers have affordable access to the essential inputs required for successful crop cultivation.
Further bolstering this support, the government has also pledged a subsidy of 15,000 Sri Lankan rupees ($50) per hectare for up to two hectares cultivated by each farmer during the upcoming Yala season. This subsidy will be administered through the Department of Agricultural Development and credited directly to the farmers’ bank accounts, ensuring a smooth and efficient distribution process.
According to estimates provided by the National Fertilizer Secretariat, the agricultural sector will require approximately 110,298 metric tonnes (MT) of urea, 27,711 MT of Triple Superphosphate (TSP), and 33,412 MT of Muriate of Potash (MOP) for paddy cultivation in the 2024 Yala season. This calculated provision of fertilizer aims to meet the specific needs of the paddy cultivation sector, highlighting the government’s commitment to supporting the agriculture.
