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Omifco raises urea price to offset increase in gas cost
- Oman: Monday, December 17 - 2012 at 00:44
Oman India Fertiliser Co (Omifco) has increased the price of its urea exports to India to compensate for a hike in natural gas price by Oman government, Times of Oman has reported. "We have already reached an agreement with the government of India for compensating the escalation in input cost," SG Gedigeri, deputy CEO of Omifco, told the daily. The urea price has been increased by $17-18 per tonnes to $150-160 per tonne, which is effective from the date of revision in natural gas price earlier this year, he said. The Sur-based company projects its urea production in 2012 to reach around 1.9 million tonnes, slightly lower than last year's two million tonnes output. "This was due to unplanned shut downs as the plant is getting little bit old," he said.
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