Taking cue from global market, DAP prices jump
Covid-19 disruptions trigger shortage of commodity in world market
Owing to a jump in international price of di-ammonium phosphate (DAP) fertiliser arising from shortage of the commodity amid Covid-19 disruptions, the local price of DAP has increased as well.
“As per our channel checks, Engro Fertilisers has increased DAP prices by Rs400 to Rs4,350 per bag with effect from January 7, 2021 due to a rise in international price of the commodity,” said Topline Securities’ analyst Sunny Kumar in a research report.
The international price of DAP had increased by $35 to $390 per ton in the last two months, Kumar said. “So far, Fauji Fertiliser and Fauji Fertiliser Bin Qasim have not increased their prices but we believe these companies will follow suit.” Rising cost of phosphoric acid coupled with a persistent increase in DAP prices in the global market lifted local prices of urea, said Arif Habib Limited Head of Research Tahir Ab