EFERT increases fertilizer prices by Rs350

MG News | July 01, 2022 at 12:57 PM GMT+05:00

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July 01, 2022 (MLN): In the backdrop of rupee depreciation and rising input costs, Engro Fertilizers Limited (EFERT) has increased the fertilizer price by Rs350 per bag to Rs2,200, sources informed Mettis Global.

To note, another industry player, Fauji Fertilizer Company Limited (FFC) had increased DAP prices by Rs700 per bag with effect from June 18, 2022 due to steep PKR depreciation, and rising international & local freight costs.

According to May’s fertilizer offtake report issued by the National Fertilizer Development Company (NDFC), the country’s overall nutrients offtake witnessed a drop of 21.8% YoY to 302,000 tonnes.

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