Pakistan Seeks To Buy Urea Fertilizers From Azerbaijan
Date
11/21/2023 1:09:20 AM
(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.
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