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Home >> Business
UPDATED: 15:24, February 15, 2006
Fertilizer being smuggled out hits local consumers hard in Bangladesh
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With the growing trend of fertilizer smuggling to neighboring India and Myanmar from Bangladesh's port city Chittagong, there is an apprehension of acute fertilizer crisis in the country.

Local daily The Financial Express reported Wednesday that prices of fertilizer have been increased by 2-4 taka (3.08-6.15 U. S. cents) per kg in the local market.

At the same time, the government is also bearing the burden of giving subsidy worth about 1.5 billion taka (23.08 million U.S. dollars) in importing fertilizer annually.

A number of Chittagong and southeastern Cox's Bazar-based smuggling syndicates were alleged involving in smuggling fertilizer worth about 6 billion taka (92.3 million dollars) annually.

According to the daily, about 630,000 tonnes of fertilizer are being produced in the Chittagong Urea Fertilizer Company (CUFCO). Of this quantity, about 300,000 tonnes are smuggled out to India and Myanmar.

Dealers purchase each tonne of fertilizer from the CUFCO at the rate of 4,800 taka (73.85 dollars). But instead of sending those to their godowns, most of the dealers sell the delivery orders to the smugglers, the daily said.

The greedy dealers sell a tonne of fertilizer between 5,800 taka(89.23 dollars) and 6,000 taka (92.31 dollars) to organize smugglers who smuggle them out to India and Myanmar against 18,000 taka (276.92 dollars) to 20,000 taka (307.7 dollars) per tonne, the daily said.

Source: Xinhua


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