CASTRIES, St. Lucia – The St. Lucia has approved a 30 percent subsidy on inputs for banana farmers in light of the rising cost of production and productivity challenges faced by stakeholders in the banana sector.
Agriculture Minister Alfred Prospere, said the subsidy will help farmers maintain the production output of their farms.
Prospere said the high cost of inputs is a major challenge faced by farmers and that this latest decision by the government demonstrates the priority placed on building resilient, sustainable agriculture livelihoods, and underscores the importance of the banana industry to St. Lucia.
A government statement said that the agreement, between the Ministry of Agriculture and the National Fair Trade Organization (NFTO) ensures access to cheaper agricultural inputs, particularly fertilizers that have been highlighted by farmers as a necessary point of assistance.
NFTO chairman, Larry Andrew, said the agreement will help boost production and improve the standards required to maintain key international markets.
“This subsidy is a start, and I’m hoping that it is something that we can continue to work on. As it is now, based on the MOU, farmers will be benefiting from two cycles of fertilizer at a reduced cost, two 25kg bags per acre at a discount of 30 percent.
“Whenever productivity is rising or increasing on the island, all stakeholders need to benefit, so when the NFTO makes decisions, we think of all and not just the NFTO farmers.”
The St. Lucia economy depends primarily on tourism, banana production, and some light manufacturing.
