AgroPages-Urea prices fall by Rs 400 per bag-Agricultural news

The prices of Urea fertilizer decreases by Rs 400 per 50 Kg bag in the local market due to timely import and distribution of the product.

An official of the Ministry of Industries told APP on Monday that the prices of urea fertilizer decreased from Rs. 2200 to Rs. 1800 per 50 kg bag in the local market. The prices of the commodity is expected to further come down during the coming days as about 500,000 metric tons of urea will reach the port soon, he added.

As many as 700,000 metric tons of urea fertilizer has already been off-loaded and distributed across the country to fulfill the domestic requirements in the Rabbi season, he added. Timely import and check on hording and black marketing would help maintain sufficient quantity of the fertilizers for the coming sowing season, he remarked.

He said that some local urea manufacturing units were not operating at their optimum level in the Rabbi season due to gas load management programme which resulted in demand-supply gap and price hike of the commodity in the local market.

The imported urea was costing the country about Rs. 2600 per 50 kg bag and the government was providing Rs. 1300 subsidy on per bag to provide relief to the growers as well as to increase the crop-output in the country, he added.

Meanwhile, an official in the Ministry of Petroleum informed that the a delegation of urea manufacturers called on the Minister for Petroleum and Natural Resources, Dr. Asim Hussian and apprised him about the shortage of gas for fertilizers industry.

The minister ensured the smooth supply of gas for the fertilizers as the demand of gas will be decreased during the spring season, he added.