Yes, it does. This is the only minus that organic products have, that their smell can be a little bit powerful compared to the ones that use chemicals as ingredients. This happens because during the decomposition of the ingredients inside the fertilizer there are some substances that are emitted: methane and ammonia.
These have an unpleasant smell, but they will not last forever. Eventually, they will pass and due to the fact that the crops are usually outside, the smell will not bother you to the extent that you will have to start using chemically made fertilizers.
Some manufacturers have improved their formula and have managed to reduce the odor that organic fertilizers come with and produce them in the form of liquid organic fertilizer. However, the benefits that organic fertilizers come with are a lot higher than the small discomfort produced by a bad odor that these fertilizers come with.