NFML reduces subsidy on imported Urea – Alfalah Securities Limited

Karachi: National Fertilizer Marketing Ltd (NFML) has raised the prices of imported urea from PKR 1,300 per bag to PKR 1,600 per bag on account of reducing the burden of subsidy on the government.

According to Alfalah Securities Limited, NFML had been distributing imported urea in the market at 27.6% discount to locally produced prices of PKR 1,790-1,795 per bag however; the product was being grey marketed by vendors and farmers were supplied urea at a much higher price. Alfalah Securities Limited believes a hike in imported urea prices would erode the purchasing power of farmers and consequently the yield of agricultural products would decrease.