The price of diammonium phosphate (DAP) has been increased by up to Rs. 510 per bag.

“As per our channel checks, Fertilizer companies have increased DAP prices in the range of Rs. 240-510 per bag,” Deputy Head of Research at JS Global Waqas Ghani told ProPakistani.

“FFC and FFBL DAP prices now stand at Rs. 12,600 per bag and Rs. 12,658 per bag, respectively. Whereas, EFERT’s DAP price stands at Rs. 12,595 per bag. Fatima’s Sarsabz DAP will have a price of Rs. 12,403 per bag,” he said.

The development comes as Wheat cultivation is beginning and the country has set its highest production target in history at 32.2 million tons for Rabi 2023-24. According to the Punjab Government’s own cost of production devised for 2022-23, Fertilizer is the most costly element after land rent, accounting for at least 20 percent of the per maund price at the farm gate.

DAP prices across Punjab have been relatively low and have been sold at near or less than notified prices due to lower demand but the Urea price rise (which has started) will be critical since it is price insensitive and has no reliable alternatives.

DAP Prices declined by Rs. 600 amid last month’s administrative crackdown against hoarding and smuggling but the prices have started to stabilize as the demand emerges due to Wheat cultivation.

Source: Pro Pakistani