ArabFinance: Egyptian Financial and Industrial (EFIC) announced that it produces single super phosphate, which is not subsidized by the government, according to a filing to the Egyptian Exchange (EGX).

The company is also subject to law No. 159 of 1981, under which the sale price of fertilizers is linked with the increase in raw materials included in production such as phosphorite and sulfur.

This disclosure comes after 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.