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The Pakistani government significantly raised gas feedstock prices for fertilizer makers on the SNGPL and SSGC networks, while producers on the Mari network stay subsidized. FFBL raised urea by Rs1,350 per bag, and Engro followed with a Rs785 per bag increase effective March 1, 2024.
Imported urea prices were left unchanged.
Higher gas costs raise domestic urea production costs, pushing up nitrogen fertilizer prices for farmers. The two-tier gas pricing creates market distortions that can keep local urea prices elevated.
brecorder.comRizwan BhattiFeb 29, 2024After 129 past bullish policy events, UREA moved a median -0.1% over 5 sessions (47% higher; middle half -1.3% to +2.3%), and +1.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
