20 August 2008 15:47 [Source: ICIS news]
LONDON (ICIS news)--The Pakistan government looks set to cap phosphate fertilizer prices at rupees (PRs) 3,050/50 kg bag ($41/50 kg bag) ex-Karachi to aid farmers, importer sources said on Wednesday.?xml:namespace>
It was expected that a subsidy of PRs2,200/50 kg bag would be applicable to all diammonium phosphate (DAP) fertilizer imports arriving after 1 July, an importer added.
So far, import arrivals after 1 July totalled around 190,000 tonnes.
However, whether the subsidy would apply to any further DAP imports would be decided on a case by case basis, the source added.
Fresh import demand was estimated at a further 100,000 tonnes for the rest of 2008.
The Pakistan government earlier raised the subsidy on a 50 kg bag of DAP from PRs 470/50 kg bag to PRs 1,000/50 kg bag in June in response to rising international DAP prices.
A formal announcement on the subsidy was expected in the next few days.
($1 = PRs74.56)
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