The government has increased the prices of urea, DAP, TSP and MOP fertilizers by Tk 5 per kilogram (kg) at dealer and farmer level. Following the price hike of fertilizer in the international market, the government has decided to increase its price in the local market.
This information was given in an order signed by Deputy Secretary of the Ministry of Agriculture Hossain Ahmed on Monday.
It said that in the context of the ongoing global economic situation, due to the increase in the price of fertilizers in the international market, a decision has been taken to re-fix the price of fertilizers with a view to keeping the import at a rational level and ensuring its optimal utilization.
It has been informed that the increase in the price of fertilizer will be effective from the date of issue of the order.
Earlier on April 3, Agriculture Minister Dr. Abdur Razzque said that the price of fertilizers will not increase in the country in the coming years as in the past.
About the quantity of fertilizer stock, the agriculture minister said, “At present there are four lakh tonnes of urea fertilizer is stocked. Besides, there are two lakh tonnes of TSP fertilizer, 2.5 lakh tonnes of DAP fertilizer and 2.15 lakh tonnes of MOP fertilizer. Compared to last year, the quantity of all fertilizers is slightly less.
In the next fiscal year (2023-24), the country will require 68,42,500 tonnes of fertilizers. Of the total demand of fertilizers in the next financial year, 27 lakh tonnes of urea, 16 lakh tonnes of DAP, 7.5 lakh tonnes of TSP, nine lakh tonnes of MOP, 30,000 tonnes of MAP, 30,000 tonnes of NPKS, 5.5 lakh tonnes of gypsum, 1.40 lakh tonnes of zinc sulfate, 2,500 tons of ammonium sulfate, 90,000 tonnes of magnesium sulfate and 50,000 tons of boron.
However, on Tuesday the minister said that considering the global economic situation and the overall situation of the country, the government has been forced to increase the price of fertilizers.
“We do not want the price of fertilizer to increase in any way. But the Finance Ministry was in such a position that the price must be increased. The Prime Minister also said not to increase the price of fertilizer, but at the request of the Finance Ministry, it had to be increased,” the minister said.
Even if the price increases, the minister has assured to support the farmers in other ways, he further said that due to the increase in the price of fertilizers, there will be pressure on the farmers, but the production will not decrease. We would like to compensate the farmers with seeds or otherwise.
The agriculture minister claimed that the price that has increase is much less than the increase in global fertilizer prices. The government is still subsidizing huge sums of money. If global prices come down, fertilizer prices will be adjusted, he said.
