Waleed Helal Warns Of Falling Fertilizers Production, Raising Prices

The Chemical and Fertilizers Export Council has warned of declining Egypt’s production of phosphate fertilizers in the coming period. This is after the Egyptian Natural Gas Holding Company (EGAS) has decided to decrease the quantity of the gas that allocated for fertilizers factories to 60% for an indefinite period.

Waleed Helal, Chairman of the Chemical and Fertilizers Export Council, said this decision will lead to declining Egypt’s exports of fertilizers, which approach $2 billion every year, in addition to the negative impact on the states of the local market and may raise the prices of fertilizers within coming weeks.

On his part, Ahmed Hagras, Treasurer Member, has criticized the private sector for not distributing the fertilizers on the local market since 10 years, but it only distributes on the Principal Bank for Development and Agricultural Credit (PBDAC).