Bangladesh’s government has approved the purchase of 30,000 tons of triple superphosphate (TSP) fertilizers from OCP Nutricrops, a Moroccan phosphate giant OCP Group subsidiary, for $423.50 per ton under a state-to-state agreement.
The decision was finalized during the Government Procurement Advisory Committee (ACCGP) meeting on December 18 in Dhaka.
The deal is intended to address Bangladesh’s growing demand for fertilizers, essential for its agricultural sector. Despite efforts to increase domestic production, the country remains reliant on imports to sustain its rapidly expanding agriculture industry.
A government spokesperson described the agreement as critical for ensuring food security, noting that reliable access to high-quality fertilizers supports an increasingly intensive agricultural system needed to feed Bangladesh’s growing population.
The OCP Group, a major global player in the fertilizer industry, has played a key role in supporting developing countries through partnerships. The agreement highlights the importance of international collaboration in enhancing agricultural productivity and providing sustainable solutions.
Through partnerships with global leaders like OCP, Bangladesh seeks to strengthen its agricultural sector’s resilience and secure long-term food security.