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The federal government should spend a further TYk2,000crore in subsidy for fertilisers this yr, taking the full quantity to Tk30,000 crore, because of the Russia-Ukraine warfare.
On Tuesday, Agriculture Minister Abdur Razzaque at a gathering stated, “This yr the subsidy quantity for fertiliser is Tk30,000 of which Tk27,000 crore has already been spent. The fertiliser worth within the worldwide market soared sharply through the pandemic. Furthermore, the availability has been affected because of the Russia-Ukraine warfare growing the expenditure.”
The agriculture ministry in mid-February introduced that the subsidy quantity for fertiliser could be Tk28,000 crore attributable to a rise in costs triggered by Covid-19.
Within the FY2020-21, the quantity was solely Tk7,717 crore.
At Tuesday’s assembly, the agriculture minister stated potassium was often imported from Russia, Belarus and Canada. Now, potassium imports from Russia and Belarus had been suspended leaving Canada as the one choice, which has led to a rise in worth.
Referring to meals safety, Abdur Razzaque stated that international meals costs have skyrocketed because of the Covid-19 pandemic and the warfare.
In keeping with the Meals and Agriculture Group of the United Nations, worldwide meals worth was at its highest in March this yr prompting the concern of meals insecurity globally, he added.
“We should hold agriculture manufacturing uninterrupted and under no circumstances ought to we turn into depending on international international locations for meals. We’re working to make sure meals safety,” Abdur Razzaque stated.
Within the earlier coordination assembly, the ministry set the fertiliser demand goal at 67 lakh tonne. Of the full quantity, 26 lakh tonne is urea, seven lakh tonne TSP, 15 lakh tonne DAP, 7.5 lakh tonnne MOP, 1,41,000 tonne zinc sulfate and the remainder gypsum and boron and so on.
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