The price of urea has been increased by Rs. 186 per bag.
Engro Fertilizers Limited (PSX: EFERT) has increased urea prices effective from 1 November 2023 (today) to Rs. 3,596 per bag, according to JS Global.
Urea retail prices of Fauji Fertilizer Company Limited (PSX: FFC) and Fauji Fertilizer Bin Qasim Limited (PSX: FFBL) stand at Rs. 3,410 per bag and Rs. 3,795 per bag, respectively.
This surge in fertilizer costs could impact demand and hurt yields due to unaffordability.
The impact of the aforesaid hike will be significant on the fertilizer industry, as feed and fuel prices are expected to remain volatile, requiring fertilizer manufacturers to increase urea prices.
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