Urea sales surge by 45% YoY in Pakistan

According to provisional fertilizer offtake data for Apr’22, urea offtake jumped by 45% YoY to 448k tons compared to 309k tons in SPLY. Offtake of FFC and FFBL (combined), EFERT, and FATIMA showcased an increase of 32%, 33%, and 152% YoY, respectively, clocking in at 216k tons, 146k tons, and 65k tons, respectively. However, on a MoM basis, urea offtake reported a decline of 12% owing to an increase in urea prices by major producers.

Urea sales of FFC and FFBL (combined), EFERT, and FATIMA reduced by 9%, 14%, and 12% MoM, respectively. On a cumulative basis, urea offtake climbed up by 22% YoY during 4MCY22, settling at 2,081k tons. The urea offtake of FFC and FFBL combined witnessed a jump of 19% YoY, to reach 964k tons while FATIMA’s sales augmented by 83% to 314k tons. Whereas, the offtake of EFERT depicted a dip of 2% YoY, arriving at 695k tons.

DAP offtake increased by 59% YoY in Apr’22

DAP sales registered a jump of 59% YoY to 73k tons during Apr’22. On a MoM basis, DAP offtake showed a drop of 9% MoM. Whereas, during 4MCY22, DAP offtake declined by 11% YoY at 322k tons. On a company-specific basis, DAP sales of FFC and FFBL clocked in at 38k tons in Apr’22, portraying a growth of 34% YoY. However, FFC and FFBL’s combined DAP offtake plummeted by 14% MoM. With this, FFC and FFBL’s DAP offtake during 4MCY22 settled at 177k tons, up by 3% YoY. Whereas, EFERT’s DAP sales during Apr’22 swelled up by 10x YoY | 26% MoM to 26k tons. Albeit, EFERT’s DAP offtake in 4MCY22 summed to 83k tons, up by 46% YoY.

Inventory position

By the end of Apr’22, the closing inventory of urea with local producers stood at 309k tons versus 200k tons in Mar’22. Furthermore, the inventory position of DAP is 336k tons as of Apr’22.

Courtesy- AHL Research

Posted in Fertilizer & Petrochemical Industries.

Leave a Reply

Your email address will not be published. Required fields are marked *