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09.05.2007 Business & Finance

Compound fertilizer price goes up in Koforidua

The price of compound fertilizer, popularly called NPK or 15-15-15 has increased from 187,000 cedis to 205,000 cedis per bag of 50 kilograms in the Koforidua Municipality.
Some agro-chemical shops were offering the same products for sale at 210, 000 cedis.

Speaking to the Ghana News Agency (GNA) at Koforidua, the Eastern Regional Distributor of Wienco Company Limited, importers of agricultural chemical products, Mr Joseph Ahunu, said since the increase in the price of the fertilizer last month, the purchase of the product had reduced.

He said the compound fertilizer was mostly used by the maize and vegetable farmers in the region.

Mr Ahunu said most of his customers had reduced the number of bags that they normally buy but expressed the hope that with time, the sales could pick up again.

Explaining the rational for the increase in the price of the compound fertilizer, the Marketing Manager of Wienco, Mr William Kotey said the company was just responding to world market trends because the compound fertilizer was a by-product of petrol.

A GNA survey in the Municipality indicated that the price of ammonia, another form of fertilizer had not changed and was still 175,000 cedis per bag of 50 kilogrammes since the beginning of the year.

Also prices of insecticides and different forms of herbicides had not seen any major change in prices on the market.