STAR BUSINESS REPORT

The government seeks to procure another 200,000 tonnes of urea amid supply concerns centring on the unrest in the Middle East. US-Israel’s war on Iran has significantly disrupted the shipment of the major crop nutrient through the Strait of Hormuz, which handles nearly one-third of global fertiliser trade.

State-run Bangladesh Chemical Industries Corporation (BCIC) floated two separate tenders on April 2, seeking quotations from international suppliers on or before April 16 to supply the input through Chittagong and Mongla ports.