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Farmers Relieved as Stabilsation Fund Returns

14 June 2013

COLOMBIA – Over 300,000 jobs have been saved following a government decision to ensure the reactivation of the Price Stabilisation Fund.

The fund will release 10 billion pesos which will be used to support exports and facilitate in milk storage.

Exports will also be improved through using the funds to offset the difference between domestic and foreign prices.

These efforts will replace confidence in the industry and perpetuate demand and buying of milk, said Francisco Heredia, Minister for Agricultural Development.

“It is an industry effort, a great example of the state, private industry and farmers cooperating to solve a solution.”

Processors will now be able to absorb domestic prices of between 840 and 910 pesos per litre, depending on the region in which the milk is collected and processed.

However, arriving at an agreement was not easy, according to the President of the Milk Producers Federation Cooperative who described the tripartite meeting’s success as ‘lucky’.

Cattlemen are on the whole satisfied with news that the dairy sector has had funding secured.

Ignacio Amador, representative of the Colombian Cattle Federation, said he was pleased by agreement that will safeguard, in part, the livestock sector.

He also stressed the importance of longer term financial changes such as establishing a further line of funding to modernise the sector.

TheCattleSite News Desk

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