Russia to Import 7,500 MT/Month of Agricultural Products from the Philippines
Farmers from all over the country, especially from Mindanao and Western Visayas, are filled with hope after Agriculture Secretary Manny Piñol confirmed that Russia will be importing bananas, mangoes, and sugar from the Philippines starting on October this year.
Piñol, who met with sugar planters in Bacolod on Wednesday, said that the decade-old problem of sugar planters will be finally addressed as the country will start exporting sugar in large scale again. Negros is the sugar bowl of the Philippines but the sugar industry after EDSA I suffered great blow after the implementation of the General Agreement on Tariff and Trade on September 1986.
Meanwhile, mango and banana planters in Mindanao and Guimaras are expected to increase their income by more than 40% when the normal trade start.
Russian Trade Minister Denis Manturov on Monday signed the agreement together with top DTI officials.
The agreement covers the Russian importation of the following products on a monthly basis
Banana – 2,450 metric tons
Mango – 1,320 metric tons
Brown sugar – 3,730 metric tons
The estimated cost of the above products is around ₱230 million and farmers are expected directly benefit from the said agreement.
Piñol said the supply is not a problem as the country is producing at high rate. He also assured that local prices and supply will not be affected.
The Philippines in return will import about 240 million liters of diesel from Russia and other countries that are not members of the Organization of the Petroleum Exporting Countries (OPEC), an energy official said on Thursday.
The agreement is the first massive trade between the two countries that were almost unknown from each other before President Rodrigo Duterte took office.
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Meanwhile, mango and banana planters in Mindanao and Guimaras are expected to increase their income by more than 40% when the normal trade start.
Russian Trade Minister Denis Manturov on Monday signed the agreement together with top DTI officials.
The agreement covers the Russian importation of the following products on a monthly basis
Banana – 2,450 metric tons
Mango – 1,320 metric tons
Brown sugar – 3,730 metric tons
The estimated cost of the above products is around ₱230 million and farmers are expected directly benefit from the said agreement.
Piñol said the supply is not a problem as the country is producing at high rate. He also assured that local prices and supply will not be affected.
The Philippines in return will import about 240 million liters of diesel from Russia and other countries that are not members of the Organization of the Petroleum Exporting Countries (OPEC), an energy official said on Thursday.
The agreement is the first massive trade between the two countries that were almost unknown from each other before President Rodrigo Duterte took office.
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