Home / Brokerage / Engro raises urea prices by PkR 202/bag – Alfalah Securities Limited

Engro raises urea prices by PkR 202/bag – Alfalah Securities Limited

Karachi: Engro Corporation has recently increased urea prices by PkR 202 per 50-kg bag in a response of gas curtailment to its new fertilizer plant “Enven1.3” and the new prices have been fixed at PkR 1,580 per bag.

According to Alfalah Securities, the supply of gas being curtailed to Engro and other fertilizer manufacturers at the SNGP network is owing to a decline in gas production at the Qadirpur gas field due to compressor testing and intensive power outages in Punjab. Engro being the price leader, has raised its fertilizer prices by PkR 202/bag as a hedge of lower production to keep its profitability intact while Alfalah Securities expects Fauji Fertilizer Company (FFC), Fauji Fertilizer Bin Qasim (FFBL) and Fatima Fertilizer to follow the trend and raise their fertilizer prices.

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