The prices of fertilizer have shot up at Tk 5 per kilogram (Kg), both at dealers and retailers levels, aiming to adjust its import amid the recent unusual price hikes at the international market.
In this regard, the Ministry of Agriculture issued an order immediately after receiving instructions from the Ministry of Finance on Monday.
"The revised price came into effect from Monday (April 10)," said an official release on Tuesday.
Under the new price, a farmer would have to buy per kg of urea at Tk 27, up from Tk 22, Triple Super Phosphate (TSP) at Tk 27 from earlier level of Tk 22, Di-ammonium Phosphate (DAP) at Tk 21 from Tk 16 and Muriate of Postash (MoP) at Tk 20, up from earlier price of Tk 15.
At the dealers level, per kg of urea is selling at Taka 25, rise from Taka 20, TSP refixed at Taka 25 from Taka 20, DAP at Taka 19, up from Taka 14 and MoP price fixed at Taka 18 from earlier price of Taka 14.
At present, the price of per kg urea is being sold at Tk 48, DAP at Tk70, TSP at Tk 50 and MoP at Tk 60 at the international market, the release said, adding: "As a result, even after increasing the price, the government will have to provide subsidy at Tk 21 for per kg of urea, Tk 49 for per kg of DAP, Tk 23 for TSP and Tk 40 for per kg of MOP."
The fertilizer price has been increased 3 to 4 times higher in the international market and at the same time the government subsidy has also been raised nearly four times more.
In 2020-21, fertilizer subsidy stood at Tk 7,420 crore while it was Tk 28,000 crore in 2021-22 and now it will require nearly Taka 46,000 crore in the current 2022-23 fiscal year.
In the last 14 years since 2008-09 fiscal, the government, so far, has provided a total of Taka 1,19,837 crore as subsidy of this important ingredient.
Source: BSS