Bangladesh Signs Fertilizer Purchase Agreement with Morocco and Saudi Arabia
Bangladesh has recently entered into a fertilizer purchase agreement with Morocco and Saudi Arabia to address resource shortages and support local economic growth. According to a report from the Attaqa platform, Bangladesh will be importing two shipments of Triple Super Phosphate (TSP) totaling around 30,000 metric tons.
The move comes as Bangladesh faces a gas supply crisis that is impacting various sectors, including power plants, cement factories, and fertilizer production. The cost of the shipment is estimated at $415 per metric ton.
In May, Bangladesh’s Cabinet Committee on Government Purchases approved a proposal to buy 40,000 tons of phosphate fertilizer from Morocco. This decision follows plans announced in 2022 to import Moroccan fertilizer, as shipments from Russia decreased due to the war in Ukraine.
The Bangladeshi government’s efforts to diversify fertilizer sources highlight the country’s commitment to addressing resource shortages and supporting local economic development.