Bangladesh Approves Purchase of 70,000 Tonnes of Moroccan Fertilizer from OCP Nutricrops for Nearly $56 Million
Bangladesh Strengthens Its Supply of Moroccan Fertilizers
On Wednesday, August 12, the Bangladesh Public Procurement Committee (CCGP) approved the procurement of 70,000 tons of phosphate fertilizers from the Moroccan company OCP Nutricrops S.A., for a total amount nearing $56 million, or approximately 520.9 million dirhams.
According to the public agency Bangladesh Sangbad Sangstha (BSS), this order accounts for 63.6% of the 110,000 tons of fertilizers that received import approval during the committee meeting. The remaining 40,000 tons will be supplied by Saudi Arabia in the form of granular urea.
Specifically, the Bangladeshi Ministry of Agriculture has obtained authorization to purchase 40,000 tons of diammonium phosphate (DAP) from OCP Nutricrops, priced at $891.67 per ton. The value of this order is estimated at around $35.7 million, or nearly 331.8 million dirhams.
A second contract involves 30,000 tons of triple superphosphate (TSP), also provided by OCP Nutricrops. The price was set at $677.33 per ton, with a total value of approximately $20.3 million, or nearly 189 million dirhams.
In total, these two Moroccan orders represent close to $56 million for 70,000 tons of fertilizers, underscoring the growing significance of Moroccan phosphate products in Bangladesh’s agricultural supply chain.
Additionally, the Bangladeshi government has approved the purchase of 40,000 tons of bulk granular urea from the Saudi company Sabic Agri-Nutrients, at a price of $421.67 per ton, for an estimated cost of $16.87 million.
These new orders continue the trend of trade between Bangladesh and the OCP Group. Last June, Dhaka had already approved the acquisition of 30,000 tons of Moroccan TSP from OCP Nutricrops at a price of $713 per ton. The new August price of $677.33 per ton reflects a decrease of about 5%.
This latest operation further solidifies Morocco’s presence, particularly that of the OCP Group, in the Asian fertilizer market, amidst a backdrop of strong global demand for fertilizers aimed at supporting agricultural production.
