What Is The Demand Of Fertilizer In Bangladesh 2021?
Bangladesh Fertilizer Association (BFA) and USDA 2022 reported that the yearly demand of chemical fertilizers in Bangladesh is around 6 million MT. It is worth mentioning that about 80% of this demanded fertilizers should be imported to Bangladesh.
Bangladesh Fertilizer Import 2021
In 2021, Bangladesh brought in fertilizers worth $1.7 billion through imports, It was the 12th biggest global fertilizer importer.
In 2021, fertilizers ranked as the 13th most commonly imported product in Bangladesh.
The country’s primary source for imported fertilizers is not specified.
Between 2020 and 2021, Bangladesh experienced a noteworthy surge in its fertilizer import markets.
The imports from Morocco showing the most extensive growing, totaling $483 million.
Alongside Morocco, Saudi Arabia and China were also among the fastest-growing fertilizer import markets for Bangladesh, with imports amounting to $377 million and $183 million, respectively.
Bangladesh Fertilizer Import By Type In 2021
1. Phosphatic Fertilizers
Bangladesh imported $342M Phosphatic Fertilizers. It became the 2nd largest Phosphatic Fertilizers importer worldwide.
Bangladesh imports Phosphatic Fertilizers primarily from:
|Country||Phosphatic Fertilizers Imports 2021 (in millions of USD)|
2. Nitrogenous Fertilizers
Bangladesh imported $361M Nitrogenous Fertilizers in 209021. It became the 23rd largest importer of Nitrogenous Fertilizers globally.
Bangladesh imports Nitrogenous Fertilizers primarily from
|Country||Nitrogenous Fertilizers Imports 2021 (in millions of USD)|
3. Potassic Fertilizers
Bangladesh imported $107M Potassic Fertilizers in 2021. It became the 24th largest importer of Potassic Fertilizers in the world.
Bangladesh imports Potassic Fertilizers primarily from:
|Country||Potassic Fertilizers Imports 2021 (in millions of USD)|
Between 2020 and 2021, the fastest growing import markets in Potassic Fertilizers for Bangladesh were:
- Canada ($39.4M)
- Russia ($23.3M)
- United States ($8.3M)
Which Fertilizer Is Used In Agriculture In Bangladesh?
The Bangladesh government imports four main types of chemical fertilizers:
- Diammonium Phosphate (DAP)
- Triple Super Phosphate (TSP)
- Muriate of Potash (MOP)
These fertilizers are commonly used in agriculture across the country.
Urea is the primary nitrogen fertilizer used in Bangladesh to fulfill the nitrogen requirements of crops.
How Big Is The Organic Fertilizer Market In Bangladesh?
Bangladesh uses about 60-70,000 MT of organic fertilizers annually.
The majority of these fertilizers are produced in factories using cow and chicken excrements.
The market for these fertilizers is estimated to be worth Tk105-120 crore.
]t is experiencing impressive growth, with a yearly increase of 30% (The Business Standards).
Bangladesh Fertilizer Export 2021
In 2021, Bangladesh's fertilizer exports totaled $22.8 million It was the 89th largest global exporter of fertilizers.
Fertilizers ranked as the 42nd most commonly exported product in Bangladesh in 2021.
The primary destinations for Bangladesh’s fertilizer exports were:
- Nepal (which accounted for all of its fertilizer exports at $22.8 million)
- the United States ($13.6 thousand)
- Bosnia and Herzegovina ($939)
- Luxembourg ($536)
- Switzerland ($348)
Bangladesh Fertilizer Tariffs
In 2016, when Bangladesh imported fertilizers from other countries, it had to pay a tax called a "tariff" which was, on average, 1.09%.
This means that for every dollar’s worth of fertilizer Bangladesh bought from abroad, it had to pay an additional 1.09 cents in taxes.
However, some of Bangladesh’s neighboring countries like Bhutan, India, Sri Lanka, Maldives, and Nepal charged higher tariffs of 5% when Bangladesh imported fertilizers from them.
This meant that if Bangladesh imported one dollar’s worth of fertilizer from these countries, it had to pay an additional 5 cents in taxes.
Tariffs can affect the price of fertilizers, making them more expensive for countries that have to pay higher tariffs.
The South Asian Association for Regional Cooperation (SAARC) Preferential Trading Arrangement (SAPTA) is an agreement that some countries in the region have signed. It is signed to reduce tariffs on certain products traded within the region.
However, in the case of fertilizers, some countries still charged higher tariffs even under this agreement.