Egypt Fertilizer Prices Remove Minimum Limit
The article discusses the Egyptian government's shift in approach regarding the pricing of nitrogen fertilizers. The decision involves changing the mechanism for setting prices in the free market to control price rises and reduce the gap between subsidized and non-subsidized markets. The final selling price is now predetermined through a joint committee consisting of the Ministries of Agriculture, Industry, and Petroleum, relying on indicators such as global prices and natural gas costs. Fertilizer prices in June auctions dropped to around 27,000 EGP per ton, compared to over 33,000 EGP in April, a decline linked to the decrease in global fertilizer prices. Egypt remains a major producer of fertilizers, with an annual production ranging between 7 and 7.8 million tons. The government aims to balance supporting farmers, protecting companies, and enhancing exports.
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