Agriculture minister Moahammad Abdur Razzaque on Wednesday said that the government decided to lower the price of diammonium phosphate (DAP), a non-urea fertiliser, to reduce the production cost of crops.
At a press conference held at the ministry in the capital, Razzaque said that the price of DAP fertiliser had been reduced to Tk 16 a kilogram from Tk 25 a kg, according to a press release.
As per the decision, farmers can buy this non-urea fertiliser at Tk 16 a kg instead of Tk 25 a kg while the dealers can buy it at Tk 14 a kg instead of Tk 23 a kg, he said.
In 2014, the government had set the price of DAP fertiliser at Tk 25 a kg for farmers and Tk 23 a kg for dealers.
The minister said that the government reduced the price of fertiliser to make the agriculture profitable.
‘About Tk 800 crore will be spent as subsidy for the DAP fertiliser in a year,’ he said, adding that about Tk 9,000 crore would be spent as total subsidy under the agriculture ministry.
Since 2016, TSP fertiliser has been selling for Tk 22 a kg while MOP fertiliser for Tk 15 a kg. Before 2016, the price of TSP fertiliser was Tk 80 a kg and that of MOP fertiliser Tk 70 a kg.
Razzaque said that farmers liked to use urea fertiliser largely for its low price but excessive use of urea increased pest attack and decreased crop production.
Agriculture ministry secretary Md Nasiruzzaman was present, among others.
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