During the month of Apr’21, data for provisional fertilizer offtake depicts that urea sales underwent a jump of 29% YoY to 312k tons compared to 242k tons in SPLY given lockdown imposed last year to counter COVID-19, which restricted movement across the country. In particular, FFC and FFBL offtake jumped by 19% YoY while EFERT and FATIMA posted 36% and 17% YoY growth respectively. On a MoM basis, urea offtake displayed a dip of 9%, owed to reduction in urea sales volume of FATIMA and FFC and FFBL cumulative by 7% and 26%, respectively. Meanwhile, EFERT’s urea offtake in Apr’21 climbed up by 20% MoM. On a cumulative basis, urea offtake posted a growth of 35% YoY during 4MCY21, arriving at 1,709k tons. The company-wise urea sales data suggests that EFERT portrayed a stellar growth of 2x YoY, arriving at 715k tons, while FFC and FFBL volumes witnessed an uptick of 1% YoY. Meanwhile, FATIMA’s urea offtake plummeted by 14% YoY during the period of 4MCY21.
DAP offtake plummets by 79% YoY/ 78% MoM in Apr’21
DAP sales depicted a 79% YoY fall to 32k tons while this figure is also down by 78% MoM during Apr’21. Likewise, during 4MCY21, DAP sales showed a downturn of 5% YoY to clock-in at 346k tons. On a company specific basis, DAP offtake of FFC and FFBL arrived at 28k tons in Apr’21, translating into a YoY and MoM drop of 63% and 69%, respectively. During 4MCY21, FFC and FFBL’s DAP offtake declined by 13% YoY to 173k tons. On the other hand, EFERT’s DAP sales registered a massive decline of 92% YoY and 88% MoM in Apr’21 to 3k tons. Meanwhile, during 4MCY19 EFERT posted a drop of 11% YoY to 57k tons.
By the end of Apr’21, closing inventory of urea with local producers is set at 529k tons as compared to 298k tons in Mar’21. Furthermore, inventory position for DAP stands at 9k tons towards end of Apr’21.
Courtesy – AHL Research