Govt advises farmers against panic buying of urea, says sufficient stock available

ISLAMABAD: The government on Tuesday advised farmers against panic buying urea, assuring them that unlike the shortage of urea stock in the international market, Pakistan had surplus stock for Rabi season.

Speaking at a news conference along with Minister for National Food Security and Research Syed Fakhar Imam in the federal capital, Minister for Industries and Production Makhdoom Khusro Bakhtyar told farmers that there was no reason to be apprehensive as hoarders could not afford to hold the stock for a longer period. “Dealers can’t keep this stock for too long and are sure to suffer a loss. Please do not resort to panic buying,” Bakhtyar said.

“Urea price per bag in the international market is around Rs11,000 while that in Pakistan is only Rs1,800; therefore, the huge difference is tempting local dealers and profiteers to hoard urea in bulk,” he added.

He said that actual production of urea during the last Rabi season was 3.17 million metric tonnes (MMT) whereas production during the current season is estimated at 3.255 MMT which is 8 per cent higher than the last year and is expected go up to 3.355 MMT, 11pc higher, if Fauji Fertiliser Bin Qasim Limited (FFBL) is provided full gas.

He said that in order to stop smuggling and hoarding of fertiliser, the government had evolved a comprehensive monitoring system to keep check on transportation of the fertiliser.

He said a web portal for monitoring of urea was launched on November 15, under which all factory dispatches with dealer name, location and truck numbers are entered by manufacturers in real time. “Once urea arrives, it is sold at controlled rate by the dealer under supervision of district/agri administration,” he added.

Speaking on the occasion, Minister for National Food Security and Research Fakhar Imam said the country had recorded a bumper wheat crop of 27.5 million tonnes (MT) last year while production would be at a record high of over 28.9 MT this year.

He said that although there were chances of fertiliser smuggling keeping the higher prices of urea in the international market in view, the government had taken measures to stop the crime.