Increase in subsidized fertilizers prices has no impact on EGYFERT
Updated 11/22/2021 12:15:00 PM
ArabFinance: Samad Misr (EGYFERT) (SMFR) announced that the government’s decision of raising the prices of fertilizers has no impacts on its products, according to a statement filed to the Egyptian Exchange (EGX).
The decision has no effect on the company as it has no contract signed with nitrogenous fertilizers producers.
This comes as a result of the government’s decision of raising the prices of subsidized fertilizers to EGP 4,500 per ton.
It is worth noting that the Ministry of Agriculture announced that the prices of nitrogenous fertilizers increased by 50% or EGP 1,500 per ton.
