Pakistan’s fertilizer industry takes action to stabilize urea prices
Major players in Pakistan’s fertilizer industry have taken decisive steps in response to rampant hoarding, inflated prices, and illicit trading of urea fertilizer. Leading manufacturers, including Fauji Fertilizer Company Limited (FFC), Fauji Fertilizer Bin-Qasim Limited (FFBL), Engro Fertilizers Limited, Fatima Fertilizer Company Limited, and Agritech Limited, have urged nationwide dealers strictly to adhere to the announced market retail prices (MRPs) for urea. The initiative aims to ease the distress faced by farmers during the critical Rabi sowing season, spanning from October-December to April-May.
A significant convention was held in Lahore on January 29, 2024, bringing together the fertilizer industry and its nationwide dealers. The gathering aimed to foster constructive dialogue and formulate immediate strategies to ensure the availability of urea and other fertilizers at manufacturer-recommended prices. The meeting addressed the pressing concerns of fertilizer demand and supply, including the Pakistani government’s import of 220,000 metric tonnes of urea to alleviate the demand-supply gap.
Prominent representatives from the industry, such as Mr. Ather Javed of Fauji Fertilizer Company Ltd, Ms. Rabel Sadozai of Fatima Fertilizer Company Limited, and Mr. Atif Muhammad Ali of Engro Fertilizers Limited, participated actively in the convention. The discussions underscored the collective resolve of all stakeholders to confront the challenges of fertilizer hoarding and market price manipulation. The emphasis was on prioritizing urea availability for agriculture, thereby supporting national food security.
The convention highlighted the necessity of aligning with the Government’s initiatives to enhance crop productivity and farmer profitability, especially focusing on achieving the wheat production target of 32 million tons for the current season. This target is crucial for reducing reliance on wheat imports and catering to domestic food, feed, and seed requirements.
As the convention concluded, there was a unanimous commitment from all parties to collaborate closely, ensuring the supply of fertilizers at controlled rates and balancing the supply-demand equation. The collective efforts of the fertilizer industry, dealers, and government are expected to stabilize the market and contribute positively to the nation’s agricultural sector.