The domestic prices of diammonium phosphate (DAP) have dipped below Rs. 11,000 per bag as the industry continues to reel from flood aftershocks.
Domestic fertilizer producers — Fatima Fertilizer Company Limited and Fauji Fertilizer Bin Qasim Limited (FFBL)— announced a decrease in DAP by Rs. 1,130 per bag on Thursday, according to JS Research. Effective from 10 November 2022. DAP retail prices of Fauji Fertilizer Company Limited (FFC) and FFBL now stand in the Rs. 10,200-10,350 per bag range, while Fatima’s DAP rate is around Rs. 10,220 per bag.
A similar announcement by Engro Fertilizers Limited (EFERT) is expected shortly.
The drop comes almost two weeks after fertilizer manufacturers agreed to consider a significant reduction in the prices of DAP fertilizer at the request of Finance Minister Ishaq Dar.
Overall, DAP sales for October 2022 are projected to be down by 82 percent YoY at 63,000 tons. Monthly sales are projected to remain flat, taking overall sales for January-October to around 800,000 tons.
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