Prices of ‘Bandi’ fertilizer to be reduced
April 20, 2023 02:10 pm
The Ministry of Agriculture has decided to reduce the prices of Muriate of Potash (MOP) fertilizer (‘Bandi Pohora’), in view of the upcoming ‘Yala’ harvest season.
Accordingly, Minister Mahinda Amaraweera stated that plans are underway to reduce the price of MOP fertilizer by Rs. 4,500 per sack.
He explained that the decision is being considered owing to the burden placed on farmers with the current prices of fertilizer. A 50-kilogram bag of MOP fertilizer is currently being sold at Rs. 18,500, he stated.
Thus, Amaraweera noted that a final decision in this regard would be taken at the Cabinet meeting scheduled for next week.
Moreover, the Minister assured that given the recent increase of companies importing and distributing fertilizer in Sri Lanka, the benefit of this increased competition within the market will be transferred to farmers, revealing that a total number of companies that have entered Sri Lanka’s fertilizer importation and distribution market recently went up to 12.
