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Summary Engro Fertilizer has reduced its urea price by Rs100 per 50 kg from today.
Engro Fertilizer, with market share of 20%, has reduced its urea price by Rs100 (inclusive of sales tax) per 50 kg bag to Rs1480 per bag (dealer transfer price). Retail price for the farmer will now be close to Rs1500 a bag effective from today.This is on the back drop of a possible increase in gas supplies to SNGPL-fed fertilizer plants in December 2011 as per the consensus between urea manufacturers and government.We expect other fertilizer producers to also reduce the price in next few days in line with past practice.
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