Fauji Fertilizer Jacks Up Urea Prices Ahead of Eid

Fauji Fertilizer Company Limited (PSX: FFC) has increased urea prices by Rs. 633 per bag.

According to JS Global, FFC has increased urea prices by Rs. 633/bag to Rs. 4,649/bag effective from 9 April 2024.

For FFBL, urea price stands at Rs. 4,450/bag, a decrease of Rs. 1,039/bag. Meanwhile, Engro Fertilizer Limited (PSX: EFERT) rates for urea remain at Rs. 4,649/bag.

This revision comes just a week after the Competition Commission of Pakistan (CCP) issued Show Cause Notices to the Fertilizer Manufacturers of Pakistan Advisory Council (FMPAC) and six leading fertilizer companies for allegedly fixing urea prices but the company has increased the prices just to bridge the gap.

Urea prices play a crucial role in determining the prices of essential food commodities. Any arbitrary increase in urea prices by fertilizer companies can lead to higher costs for farmers, ultimately resulting in more expensive food prices for consumers.