Ecuadorian Minister of Agriculture Carlos Vallejo has entrusted the National Development Bank with the purchase of 40,000 tons of urea from Venezuela, the Ecuadorian media reported Thursday.

According to daily newspaper El Comercio, this new purchase of the Venezuelan fertilizer, in addition to 10,000 tons bought last March, will complete the amount of 50,000 tons expected for this year.

Urea, a fertilizer used for agricultural purposes, will be delivered half the price marketed by private importers to small and medium-sized farmers nationwide, Efe quoted.

Thus far, 2,832 requests have been received to buy over 50 percent of the fertilizer that reached last March 25th the port at Guayaquil.