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 noticeableupsurge in the price of urea fertilizer across various cities in Pakistan.In Faisalabad, the price soared by Rs400 per 50kg bag, while Lahorewitnessed a Rs250 hike per bag of urea. Similarly, Hyderabad experienced aRs200 increase in the price of a 50kg bag of urea fertilizer, while Larkanareported a surge of Rs176.
Last year, an internal report from the Ministry of Interior highlighted theinvolvement of hoarders and smugglers in different provinces ascontributing factors to the fertilizer shortage and price hikes in thecountry. 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 wereresponsible for smuggling 300 metric tonnes of fertilizer into the market,exacerbating the situation.
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In summary, the price escalation of urea fertilizer has raised concerns inPakistan, with fluctuations observed across various cities. The involvementof hoarders and smugglers in the fertilizer market has been identified as asignificant issue contributing to price hikes and shortages, as evidencedby the Ministry of Interior’s report. Addressing these challenges iscrucial to ensuring stable and affordable access to fertilizer for thecountry’s agricultural sector and overall economic stability
