Urea fertilizer price slashed by Rs.7,000

Fertilizer companies today agreed to reduce the price of a 50kg bag of urea fertilizer by Rs. 7,000 in the market.

The decision was taken following a discussion with Agriculture Minister Mahinda Amaraweera and the representatives of several companies that import fertilizers to Sri Lanka.

During the meeting, the minister requested the representatives to reduce the price of fertilizers sold by these private companies, especially since the government is supplying urea to farmers at Rs. 10,000 following the strengthening of the rupee.

Accordingly, the representatives agreed to sell a 50kg bag of urea, which is currently sold at Rs.18,500 at a price of Rs 11,500.

The Minister also mentioned that the Ministry has focused on further reducing the price of urea that is currently being given to farmers by the Department of Agrarian Development Authority. (Chaturanga Pradeep Samarawickrama)