Fertilizer prices have doubled in the international market
Karachi: Fertilizer prices have doubled in the international market.
Fertilizer prices continue to rise in the global market, while the local fertilizer industry has helped the country become self-sufficient and save from importing urea through local production at half the price of the international market.
According to the latest commodity data, global urea prices in the Asian region, especially in China and the Middle East, have risen to 37 375 per tonne (cost and community), equivalent to Rs 3,500 per 50 kg bag in Pakistan.
According to the October 2020 edition of the World Bank’s Commodity Markets Outlook, global fertilizer prices are expected to rise by 3% this year, after an increase of about 12% in the third quarter of 2020.