The government has been prioritising the import of urea and other fertilisers to meet the demand for this essential agricultural input during the upcoming Boro paddy season, the dry season rice crop.
The cabinet committee on purchases approved the import of 1.5 lakh tonnes of fertilisers during a meeting chaired by Finance Adviser Salehuddin Ahmed at the Secretariat in Dhaka yesterday.
With the latest move, the interim government has approved the import of a total of 7.6 lakh tonnes of fertilisers, including urea, since assuming power in early August.
Bangladesh used 57.7 lakh tonnes of chemical fertiliser in fiscal year 2023-24, a 2.3 percent increase compared to the previous year. Urea accounted for 46 percent of total fertiliser usage.
The government has set a target to import 52 lakh tonnes of fertiliser in the current fiscal year. For FY25, the import target for urea is 20 lakh tonnes.
According to the agriculture ministry, the country's fertiliser imports until early September this year stood at around 5 lakh tonnes.
The peak season for Boro cultivation usually runs from December to March. Fertiliser demand during this period is around 18 lakh tonnes.
A finance ministry official said this demand would be met through a combination of imports and local production.
Of the 1.5 lakh tonnes approved yesterday, Chinese company Banyan International Trading Limited will supply 40,000 tonnes of di-ammonium phosphate (DAP) at $613.25 per tonne, according to a finance ministry statement.
Another company, OCP SA of Morocco, will supply 40,000 tonnes of DAP at $598.50 per tonne.
Saudi Arabian company MA'ADEN will supply 40,000 tonnes of DAP fertiliser at $606.0 per tonne.
Besides, a consignment of 30,000 tonnes of urea fertiliser will be imported from Saudi Arabia at $359.33 per tonne. Saudi Arabian SABIC Agri-nutrients Company will supply the fertiliser.
The purchase committee also approved the import of 55 lakh litres of soybean oil by local City Edible Oil Limited for Tk 157.90 per litre.
After the meeting, the finance adviser told journalists that the interim government's priority is to bring back laundered money.
A taskforce has been formed in this regard, and it has already started working.
Salehuddin said the taskforce needs some technical assistance. A delegation led by him is departing the country tonight to attend the annual meetings of the World Bank (WB) and International Monetary Fund (IMF).
Bangladesh Bank Governor Ahsan H Mansur has already left to participate in the WB and IMF annual meetings.
The Bangladesh delegation will discuss the issue of laundered money on the sidelines of these meetings in Washington, DC.
