Farmers are to pay Tk. 6 more for a kilogram of urea fertilizer effective Monday, the Agriculture Ministry announced citing price hike in the global markets.
In a handout the ministry said that urea fertilizer will now be sold at Tk. 22 per kg, up from Tk. 16 per kg at the farmers’ level. At the dealers’ level the price has been re-fixed at Tk. 20 per kg, up from Tk. 14 per kg.
According to the handout, the price of per kilogram of urea fertilizer in the international market is currently Tk 81. Despite the raise in the local market by Tk 6 per kg, the government will have to provide Tk 59 in subsidy per kg.
In 2005-2006 fiscal year, the government provided Tk 15 a kg as urea fertilizer subsidy, it said.
The price of fertilizer has shot up 3-4 times in the international market and as a result the government’s subsidies on the essential agro inputs rose by four times.
In FY2020-21, the government provided Tk 7,717 crore as subsidy in fertilizer while Tk 28,000 in FY2021-22. .
Source: United News of Bangladesh