Pakistan records a fall in urea and DAP sales by 27% and 6% YoY

The provisional fertilizer offtake data depicts a decline in urea sales, down by 27% YoY in Jan’25, reaching 446k tons.
On a company-wide basis, urea sales of EFERT contracted by 49% YoY, arriving at 107k tons.
Similarly, the offtake of FFC and FFBL Group declined by 27% to 194K tons,
Moreover, FATIMA group offtakes of urea increased by 10% YoY, clocking in at 108k tons.
On a MoM basis, urea sales declined by 55% due to seasonal factors. In addition to this, the temporary shutdown of FFBL and AGL plants further contributed to the decline.
EFERT’s urea dispatches declined by 74% MoM, while FFC and FFBL combined and FATIMA reported a 48% and 26% MoM decline, respectively.

DAP offtake decreased by 6% YoY in Jan’25

• DAP sales in Jan’25 clocked in at 63k tons, marking a 6% YoY | 54% MoM decline. On an MoM basis, the decline comes from the conclusion of the Rabi season in Dec’24.

• On a company-specific basis, DAP sales of FFC and FFBL combined increased by 31% YoY to 37k tons in Jan’25. Meanwhile, the offtake declined by 59% on a MoM basis.

• Furthermore, EFERT’s DAP offtake in Jan’25 declined by 66% YoY | 2% MoM to arrive at 13k tons.

• For the FATIMA Group, DAP sales in Jan’25 surged by 225x YoY | 37% MoM, landing at 4k tons.

Inventory position

• The urea inventory stood at 454k tons in Jan’25 compared to 360k tons in Dec’24.

• Whereas, DAP inventory settled at 141k tons in Jan’25 against 102k tons in Dec’24.

Courtesy – AHL Research