Dhaka, Jan. 21 -- With the ongoing Boro-planting season approaching to its peak, farmers face a looming uncertainty: a potential shortage of urea due to the ongoing dollar crisis, according to Bangladesh Chemical Industries Corporation (BCIC).

The state-run chemical agency has warned of dire consequences if two state-owned banks do not clear around $104 million in dues to Karnaphuli Fertilizer Company Limited (KAFCO) -- the lone multinational joint venture in the domestic fertiliser sector.

KAFCO produces urea fertiliser from natural gas. Its shareholders include the government, BCIC and private entities from Japan, Denmark and the Netherlands.

BCIC says KAFCO's non-payment could hinder the import of 0.25 million tonnes of urea needed ...