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Egypt increases price of subsidised fertiliser by 50%

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Dec 06, 2023

Egypt increases price of subsidised fertiliser by 50%

CAIRO, Nov 18 (Reuters) - The Egyptian government has raised the price of

CAIRO, Nov 18 (Reuters) - The Egyptian government has raised the price of subsidised urea fertiliser to its domestic farmers by 50%, two official said on Thursday.

A statement from the Ministry of Agriculture said producers would now be able to charge farmers up to 4,500 Egyptian pounds ($288) per tonne.

This would amount to an increase of 1,500 Egyptian pounds on the current price, said the two government officials, who asked not to be named.

Producers in Egypt would be required to direct at least 65% of their production to the domestic market, of which 10% could be sold at the market price and 55% at the subsidised price of 4,500 pounds, the ministry statement said.

($1 = 15.6500 Egyptian pounds)

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