BOI seeks boost to locally made biofertilizers | Inquirer Business

BOI seeks boost to locally made biofertilizers

/ 09:50 AM January 03, 2024

MANILA, Philippines  —Homegrown animal health firm AgriSpecialist Inc. (ASI) and the Board of Investments are teaming up to monetize locally developed biofertilizer products and technologies, which are seen as eco-friendlier and more productive.

Among the possible focus of joint promotion is Bio-N, a product developed by the National Institute of Molecular Biology and Biotechnology at the University of the Philippines in Los Banos (UPLB).

The product is touted as having the potential to increase crop yields by 11 percent, and the BOI said five to six 200-gram sachets of Bio-N can replace two 50-kilogram bags of urea per hectare planted with rice.


READ: Marcos says biofertilizers to be introduced to local farmers


“With the product, farmers can save around P10,000 per hectare. Both BOI and AgriSpecialist agreed that they should place a premium on having an industrialization partner from the beginning of the research and development process,” the BOI said in a statement.

The BOI also said that ASI’s Bio-N manufacturing facility in Sta. Rosa, Laguna, could be the first commercial-scale factory for biofertilizer.

The planned expansion of the Bio-N manufacturing plant could fully accommodate the country’s biofertilizer needs for the lands planted with rice and corn, the BOI added.

Further, the BOI said with industry players’ help, the investment promotion agency aims to strengthen the information dissemination and education campaign for farmers to facilitate the shift from traditional fertilizers to biofertilizers.

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TAGS: Board of Investments, fertilizer, project

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