Confagan proposes allocating 10% of Venezuela's oil revenue to agriculture

The National Confederation of Farmers and Ranchers of Venezuela (Confagan) has proposed that 10% of the country's oil revenues be allocated to the agricultural sector. José Agustín Campos, president of the guild, stated that linking oil wealth with agricultural development is essential for national progress and economic diversification.

During an event at the Legislative Council of Anzoátegui, Campos emphasized that these funds should finance farmers and improve infrastructure, such as roads. He argued that correcting the historical separation between the petroleum and agricultural sectors would allow Venezuela to transition from an energy exporter to a major exporter of food products like cereals, meat, and dairy.

Additionally, the guild highlighted the ongoing need to resolve fuel shortages, specifically regarding diesel, which continues to impact agricultural productivity.