Pakistan Seeks To Buy Urea Fertilizers From Azerbaijan

(MENAFN- Trend News Agency) BAKU, Azerbaijan, November 21. Pakistan will undertake negotiations with Russia, Azerbaijan, and China about supplying 200,000 tons of urea fertilizers, which are in low supply in the country, Daily Pakistan said, Trend reports.

The Council of the Public Procurement Regulatory Authority approved the proposal of Pakistan's Ministry of industry and Production to negotiate with Russia, Azerbaijan and China on the purchase of 200,000 tons of urea fertilizers in the agreed price range.

According to Daily Pakistan, the country is facing an urgent shortage of at least 200,000 tons of urea fertilizers following the temporary shutdown of local plants for many weeks and a rise in demand for these fertilizers in December and January. Negotiations with Moscow, Baku, and Beijing will be subject to intergovernmental agreements (G2G) and a price discovery system. On the global market, such fertilizers now cost $415 to $420 per metric ton. Given that Pakistan imported urea fertilizer at a higher price in 2022, the cost of their supply may rise.

Prices will be determined through bidding, with a usual timeframe of 45 days.

The SOCAR Carbamide factory meets 90 percent of Azerbaijan's nitrogen fertilizer requirement.

SOCAR Carbamide, within Sumgayit Chemical Industrial Park, plays critical role in Azerbaijan's agricultural and non-oil export development.

The factory, which opened in January 2019, contributes to lowering reliance on nitrogen fertilizer imports and addressing the demand for these products among local farmers.

Stay up-to-date with more news at Trend News Agency's WhatsApp channel


Trend News Agency

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.