400 billion sums to be allocated for potato growing development

This year, 400 billion sums will be allocated from the Agricultural Fund to support the development of potato farming. The announcement was made on January 30 during a meeting on the new system for profitable production on homestead and leased arable land, chaired by President Shavkat Mirziyoyev.

It was highlighted that although potatoes are cultivated on 290 thousand hectares, imports still contribute to meeting domestic demand. This is due to issues with the variety and yield of locally grown potatoes.

In response, the Potato Research Institute has been tasked with developing climate-resistant, high-yielding potato varieties. Additionally, the institute will be responsible for growing and distributing 3 million seedlings annually through the "in-vitro" method.

To further incentivize domestic production, 50% of the value-added tax (VAT) on the sale of both imported and locally grown seed potatoes will be refunded as a "cashback." The government also aims to fully meet domestic demand for potatoes through local production by 2027.

Moreover, directives have been issued for the delivery of equipment necessary for both growing and processing potatoes, as well as for providing convenient leasing options to farmers.

As previously mentioned, the Ministry of Agriculture has indicated that, following ongoing efforts, potato prices are expected to stabilize by February-March and decrease in April-May.