After President Tayyip Erdoğan’s statement that fertilizer and feed prices will be fixed until the end of April, shares in the related sector are in sharp decline.

In his statement after the cabinet meeting yesterday, President Erdoğan said: “Agricultural credit cooperatives will offer a discount of up to 13 percent on chemical fertilizers DAP, urea, ammonium sulfate, 20-20 and nitropower, which are widely used in the spring period. . The Minister of Agriculture and Forestry should closely monitor this matter. Likewise, there will be a discount of up to 5 percent on compound feed.

‘PRICE LIST WILL NOT BE AFFECTED BY INCREASES’

Erdoğan said: “At least as important as this, we fix the prices of fertilizers and feed until the end of April. If there is a decrease in fertilizer and feed prices in favor of our growers during this period, we will of course reflect that. But the new price list will not be affected by the increases, ”he said.

While related stocks opened sharply lower this morning, the automatic switch was applied on shares of Ege Gübre, which fell 6 percent.

Bagfaş moves with a decrease of 4.8 percent, Tekfen with a loss of 3.7 percent, Fertilizer Factories with a decrease of 2 percent and Hektaş with a loss of 4 percent. The BIST-100 index is flat. (Reuters)