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Colombian Ag Ministry buys up agchems

The Colombian Ministry of Agriculture is acquiring on a “massive scale” agricultural inputs including pesticides in an attempt to bring down costs. The national agriculture bank will guarantee purchases through an auctioning system, aiming to “substantially” lower prices to farmers. The Ministry hopes that pesticide and other industry associations will get involved “in solving one of the key problems in the sector”, to bypass “excessive amounts” of intermediate sellers. They mark up prices by 25-30%, the Ministry claims.

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