To boost agricultural productivity and guarantee food security, the government has decided to purchase 110,000 metric tons of fertilizer. Dr. Salehuddin, the Finance Advisor, led the Advisory Council Committee on Government Procurement at its meeting at the Secretariat on Tuesday, July 1, and gave the initiative preliminary approval.

The estimated total cost for the fertilizer import is 850 crore 50 lakh 86 thousand taka. This includes the import of 30 thousand metric tons of urea fertilizer from the United Arab Emirates, which has been sanctioned based on the Ministry of Industries’ proposal. The cost for this will be 1 crore 15 lakh 65 thousand US dollars, with a price of 385.50 dollars per ton. Additionally, 40 thousand tons of DAP (diammonium phosphate) fertilizer will be sourced from China, costing 2 crore 91 lakh 70 thousand dollars, at a rate of 729.25 dollars per ton. Furthermore, another 40 thousand tons of DAP fertilizer will be imported from Saudi Arabia, amounting to 2 crore 86 lakh dollars, with a price of 715 dollars per ton.

This decision is viewed as timely and significant by stakeholders, considering the fluctuations in global fertilizer prices and the local agricultural production cycle. Moreover, one of the government’s goals is to lower farmers’ production costs by ensuring a steady supply of urea and DAP fertilizers.

As per government sources, this import decision will help avert artificial shortages and price hikes in the market. Additionally, it has circumvented the complexities associated with inviting tenders in the open market by facilitating imports through a state-level agreement.