Bangladesh has entered into a fertilizer purchase agreement with Morocco, along with Saudi Arabia, as part of a broader effort to enhance and diversify exports to support local economic growth, according to a recent report from the Attaqa platform.
The report noted that Bangladesh intends to buy fertilizer from the said countries following a procurement proposal from its Chemical Industries Corporation (BCIC) to the Ministry of Industry.
This move aims to address the ongoing resource shortages, as the gas supply crisis is impacting power plants, cement factories, and fertilizer production, among other sectors.
The platform explained that Bangladesh plans to import two shipments of fertilizer—one from Saudi Arabia and another from the OCP Group—totaling around 30,000 metric tons of Triple Super Phosphate (TSP), a soluble fertilizer that contains calcium. The cost for this shipment is estimated at $415 per metric ton.
The report highlighted that “the country has been grappling with a long-standing energy resource shortage, especially in natural gas, especially in natural gas, both during the former prime minister’s administration and following her resignation and departure from the country.”
It noted that this has led “the government to pursue long-term contracts for liquefied natural gas while also trying to secure immediate shipments.”
In May, Bangladesh’s Cabinet Committee on Government Purchases (CCGP) approved a proposal from the Ministry of Agriculture to buy 40,000 tons of phosphate fertilizer from Morocco through the Bangladesh Agricultural Development Corporation, according to the official Bangladeshi news agency.
For context, the Bangladeshi government announced in 2022 plans to import around 30,000 tons of Moroccan fertilizer, especially after its shipments from Russia decreased due to the war in Ukraine.
The foreign minister of Bangladesh had previously noted that the country was struggling to source fertilizers from Moscow because of Western sanctions.
add your comment
Terms of publication : Not to offend the writer, people, sacred things, or attack religions or the divine self, and refrain from racist incitement and insults.