Bangladesh Approves Procurement of 70,000 Tons of Fertilizers and Key Goods

Dhaka, Jan 5 - In a move aimed at bolstering agricultural production and food security, the Government Procurement Advisory Committee of Bangladesh has approved several strategic procurement proposals. The approved projects focus on securing essential fertilizers and food grains.

Fertilizer Procurement: A Dual Strategy for Sowing Seasons

To address the urgent needs of the agricultural sector and replenish domestic inventories, the committee gave the green light to multiple fertilizer tenders proposed by the Ministry of Industries.

• Phosphoric Acid Import: To meet upstream raw material demands, the committee approved the import of 10,000 tons of phosphoric acid from TSPCL, with a procurement value of approximately BDT 977 million.

• Urea Supply: To ensure adequate fertilizer supply for the upcoming sowing seasons, a two-pronged approach was approved to supplement granular urea stocks. This includes procuring 30,000 tons of bagged granular urea from the local Bangladeshi company KAFCO, valued at around BDT 1.9059 billion, and 40,000 tons of bulk granular urea from Saudi Arabia's SABIC Agri-Nutrients, amounting to approximately BDT 1.9059 billion.

Food Security and Infrastructure Development

In addition to agricultural inputs, the committee approved projects vital for people's livelihood and economic development.

• Grain Reserves: To bolster the national food stockpile, the import of 50,000 tons of Non-Basmati Parboiled rice was approved.

• Infrastructure: A major infrastructure development project proposed by the Ministry of Shipping was also cleared.

This series of swift approvals underscores the Bangladeshi government's high priority on agriculture, food security, and infrastructure development, providing a solid foundation for market stability and sustained economic growth.