Urea Fertilizer Prices register massive increase across Pakistan
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The cost of a 50kg bag of urea fertilizer in the nation escalated by Rs400, reaching a total of Rs4,200 last week. The past week saw a noticeable upsurge in the price of urea fertilizer across various cities in Pakistan. In Faisalabad, the price soared by Rs400 per 50kg bag, while Lahore witnessed a Rs250 hike per bag of urea. Similarly, Hyderabad experienced a Rs200 increase in the price of a 50kg bag of urea fertilizer, while Larkana reported a surge of Rs176.
Last year, an internal report from the Ministry of Interior highlighted the involvement of hoarders and smugglers in different provinces as contributing factors to the fertilizer shortage and price hikes in the country. The report indicated that 40 dealers in Sindh, 28 in Balochistan, and 24 in Punjab were implicated in fertilizer hoarding.
Furthermore, the report disclosed that two smugglers from Mirpur Khas were responsible for smuggling 300 metric tonnes of fertilizer into the market, exacerbating the situation.
In summary, the price escalation of urea fertilizer has raised concerns in Pakistan, with fluctuations observed across various cities. The involvement of hoarders and smugglers in the fertilizer market has been identified as a significant issue contributing to price hikes and shortages, as evidenced by the Ministry of Interior's report. Addressing these challenges is crucial to ensuring stable and affordable access to fertilizer for the country's agricultural sector and overall economic stability
