Prices of major non-urea fertilisers reduced
Tuesday, 3 November 2009
FE Report
The government reduced Monday the prices of major non-urea fertilisers, which will cost the national exchequer Tk 5.0 billion for supplying the inputs to farmers at subsidised rates.
Agriculture Minister Begum Motia Chowdhury announced the cut in sales prices of triple super phosphate (TSP), muriate of potash (MOP) and diammonium phosphate (DAP) at a press briefing at the secretariat.
Industries minister Dilip Borua and senior officials of agriculture ministry were present there.
Under the revised rates, the price of TSP has been reduced to Tk 22 per kilogram (kg) from Tk 40.
MOP will be sold at Tk 25 per kg against previous rate of Tk 35 per kg while the price of DAP has also been slashed to Tk 30 per kg from Tk 40 per kg previously.
Besides, the non-urea fertiliser will be supplied at Tk 2.0 less per kg from the revised prices to the dealers, the press conference was told.
The present government has cut the prices of non-urea fertiliser prices for the second time after it was formed in early January 2009. And, such price cuts were mainly done in view of a significant fall in fertilizer prices in the global market.
"Within a short time after assuming office, we have drastically cut the prices of non-urea fertilisers for supporting the farmers … this support will continue in future, Motia told newsmen.
When her attention was drawn to the IMF's (International Monetary Fund) suggestion that the government should reduce its subsidy on agriculture, she said: "It (IMF) has made its observations, but we will be working on our own."
Previously, the government had to bear nearly Tk 25 billion as subsidy for almost halving the prices of the three non-urea fertilisers.
This time, the government will require spending about Tk 5.0 billion for helping the state-run Bangladesh Chemical Industries Corporation (BCIC) and Bangladesh Agriculture Development Corporation (BADC), and private importers cut further the prices of the fertilisers.
The government has allocated about Tk 36 billion for the current fiscal year on account of agricultural subsidy, a senior agriculture ministry informed the FE.
The press conference was told that the country's present stock of TSP was about 176,000 tonnes and that of MOP and DAP was 149,000 tonnes and 29,000 tonnes respectively.
The country's total demand for the non-urea fertilisers is also estimated at over 1.1 million tonnes per annum.
The government reduced Monday the prices of major non-urea fertilisers, which will cost the national exchequer Tk 5.0 billion for supplying the inputs to farmers at subsidised rates.
Agriculture Minister Begum Motia Chowdhury announced the cut in sales prices of triple super phosphate (TSP), muriate of potash (MOP) and diammonium phosphate (DAP) at a press briefing at the secretariat.
Industries minister Dilip Borua and senior officials of agriculture ministry were present there.
Under the revised rates, the price of TSP has been reduced to Tk 22 per kilogram (kg) from Tk 40.
MOP will be sold at Tk 25 per kg against previous rate of Tk 35 per kg while the price of DAP has also been slashed to Tk 30 per kg from Tk 40 per kg previously.
Besides, the non-urea fertiliser will be supplied at Tk 2.0 less per kg from the revised prices to the dealers, the press conference was told.
The present government has cut the prices of non-urea fertiliser prices for the second time after it was formed in early January 2009. And, such price cuts were mainly done in view of a significant fall in fertilizer prices in the global market.
"Within a short time after assuming office, we have drastically cut the prices of non-urea fertilisers for supporting the farmers … this support will continue in future, Motia told newsmen.
When her attention was drawn to the IMF's (International Monetary Fund) suggestion that the government should reduce its subsidy on agriculture, she said: "It (IMF) has made its observations, but we will be working on our own."
Previously, the government had to bear nearly Tk 25 billion as subsidy for almost halving the prices of the three non-urea fertilisers.
This time, the government will require spending about Tk 5.0 billion for helping the state-run Bangladesh Chemical Industries Corporation (BCIC) and Bangladesh Agriculture Development Corporation (BADC), and private importers cut further the prices of the fertilisers.
The government has allocated about Tk 36 billion for the current fiscal year on account of agricultural subsidy, a senior agriculture ministry informed the FE.
The press conference was told that the country's present stock of TSP was about 176,000 tonnes and that of MOP and DAP was 149,000 tonnes and 29,000 tonnes respectively.
The country's total demand for the non-urea fertilisers is also estimated at over 1.1 million tonnes per annum.