DAP prices surge by more than double
KARACHI: International prices of Di-ammonium Phosphate (DAP) fertiliser have surged more than double during the last year, dealers said here Wednesday.
At the start of last year DAP could have been purchased for approximately $300 per ton cfr Karachi port. Today, if a fresh purchase was to be made, this price would be more than $700/ton cfr Karachi port.
Purchase price at this time of last year equated to approximately Rs 1050/bag of 50kg ex-Karachi port, today, based on the $700/ton cfr import price, this has increased to approximately Rs 2400 per bag of 50kg At this time last year, the Government of Pakistan was paying a subsidy of Rs 250/bag of DAP, thus the importers of DAP were selling the product at around Rs 800/bag of 50kg.
The GoP increased this subsidy to Rs 470 per bag of 50kg during the year, which only provided partial coverage for cost increases incurred by the importers. This subsidy continues to date. staff report
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| Saturday, November 21, 2009
