Dollar Crisis and LC Delays Spark Fertilizer Shortage

The government of Bangladesh has approved procurement proposals for essential goods to meet the country’s growing demand. The Bangladesh Chemical Industries Corporation (BCIC) will buy 30,000 MTs of rock phosphate for Tk 822.6 million from Zentrade FZE, UAE, at $228.50 per MT.

On December 15, 2024, Bangladesh signed a two-year agreement with Saudi Arabia to import 400,000 tonnes of diammonium phosphate fertiliser annually from Saudi company Ma'aden. The deal, signed in Riyadh, aims to boost Bangladesh's food production and ensure food security.

The government has approved several proposals for procuring Liquefied Natural Gas (LNG) and fertiliser. At a meeting chaired by Finance Adviser Dr Salehuddin Ahmed, the Advisers Council Committee on Government Purchase approved Petrobangla's purchase of one LNG cargo from M/S POSCO International Corporation, Korea, for Tk 6.93 billion, costing $14.69 per MMBtu.

The Advisers Council Committee on Government Purchase (ACCGP) has approved the procurement of two cargos of Liquefied Natural Gas (LNG) and 120,000 tonnes of fertilizer to meet rising demand in Bangladesh. Each LNG cargo, approximately 3.36 million mmBtu, will be sourced from M/S Total Energies Gas and Power Limited, Switzerland.

The government will procure soybean oil, lentils, LNG, and fertilisers to meet domestic demand. The Advisors Council Committee on Government Purchase, chaired by Finance Adviser Dr Salehuddin Ahmed, approved proposals for these procurements.

The Bangladesh government has approved the procurement of 1.30 lakh metric tons of fertilizer to meet the country's growing demand. The Ministry of Industries' Bangladesh Chemical Industries Corporation (BCIC) will procure 30,000 MTs of bulk granular urea fertilizer from Saudi Arabia.