Engro again raises urea rates by Rs 100

[NiceFarmer]

Engro Fertilizer has once again reversed its previous decision by raising urea prices by Rs100 to Rs1,580 per 50 kg bag. Retail price for the farmer will now be close to Rs1,600 a bag effective from today (Thursday).

According to market experts, the decision was taken primarily due to non-availability of gas to Engro New plant (Enven) since last 13 days despite governments’ commitment to provide gas in the month of Dec to meet higher demand in peak Rabi season. They expect other fertilizer producers will also increase the price in next few days inline with past practice.

Source​

 

[longbrained]

Actually fertilizers and pesticides constitute a small portion of food production costs. This increase will not have much effect on the final product price.