FFC, FFBL raise DAP prices by Rs450 per bag

MG News | July 29, 2024 at 12:14 PM GMT+05:00

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July 29, 2024 (MLN): Fauji Fertilizer Company Limited (PSX: FFC) and Fauji Fertilizer Bin Qasim Limited (PSX: FFBL) have increased the market retail price of Di-Ammonium Phosphate (DAP) fertilizer by Rs450 per bag.

After incorporating this hike, the updated prices are now Rs11,665 per bag for FFC and Rs11,715 per bag for FFBL, as confirmed by market sources.

This will be a significant blow to farmers who are already struggling with cash flow issues, as they will find it difficult to afford fertilizers at these increased rates.

It is worth noting that Fertilizer sales, including urea and DAP, fell 21% YoY to 606,000 tonnes during June 2024, according to the latest monthly report on fertilizer offtake issued by the National Fertilizer Development Company (NDFC).

Moreover, in a recent development concerning both FFC and FFBL, the board of directors of FFC has granted in-principle approval to evaluate the potential amalgamation of FFBL with Fauji Fertilizer Company Limited through a scheme of arrangement.

According to Mettis Global's calculations of the swap ratio based on the book values of the two entities, FFBL may receive 0.32 shares of FFC for every 1 share held in FFBL.

Copyright Mettis Link News

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