FFC raises DAP prices by PKR 141 per bag – Alfalah Securities Limited

Karachi, July 11, 2012 (PPI-OT): Fauji Fertilizer Company (FFC) has increased DAP (Di-ammonium Phosphate) fertilizer prices by PKR 141 to PKR 3,843 per bag with effect from July 10, 2012.

According to Alfalah Securities Limited, the prices has been increased in line with international DAP prices which surged by 10% in May 2012 to average USD 553 /MT (fob) in May 2012 after taking a dip to average USD 502.5 in March 2012. The increase in prices would be positive for the fertilizer companies where it particularly bodes well for the sole DAP producer – FFBL which will be reflected through higher margins and increased profitability in 3QCY12.