No plan to raise fertiliser prices

The government is having to provide over threefold the usual annual subsidies for fertilisers in fiscal year 2021-22 due to an unusual rise in international market prices.

Yet, it has no plan to hike the prices of the key crop production input right now, said Agriculture Minister Muhammad Abdur Razzaque yesterday.

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Of the Tk 28,000 crore being required, Tk 19,000 crore has been provided and another Tk 9,000 crore will be needed by next June, he said.

The minister was speaking as chief guest at a debate "Shadow parliament on the government's appropriate steps to ensure safe food" at Film Development Corporation in Dhaka, says a ministry press release.

"This huge amount of subsidy will be required due to the abnormal increase in the price of fertiliser in the international market and increase in transportation cost. Usually, we need subsidies of Tk 8,000-Tk 9,000 crore every year," Razzaque said.

Fertiliser consumption is growing every year.

The amount used in agriculture was estimated at 58.65 lakh tonnes in fiscal year 2020-21.

The ministry projects that demand would reach 67 lakh tonnes during the current fiscal year ending in June.