Fertilizer: Demand Rebound in Aug’25
As per the latest NFDC data, total fertilizer offtake in Aug’25 stood at 1,139k tons, showing an increase of +32% MoM and 55% YoY. Cumulatively, 8MCY25 offtake reached 5.7Mn tons, down 8.4%YoY, reflecting a sharp seasonal rebound in Aug’25 offtake. However, cumulative demand trends remain weak amid lower farmer income caused by the government’s withdrawal of support prices and declining sowing areas.
Product-Wise Performance
Urea:
Urea sales rose 34% MoM and 46% YoY to 817k tons in Aug’25, the cumulative 8MCY25 offtake down 12%YoY to 3.78Mn tons. Despite the sharp rebound on a monthly and yearly basis, overall offtake continues to reflect weak farm economics amid lower support prices and rising input costs.
DAP:
DAP offtake stood at 136k tons in Aug’25, reflecting an increase of 28%MoM and 53%YoY. However, during 8MCY25 offtake down 8%YoY to 698k tons, underscoring continued affordability challenges and cautious farmer buying behaviour.
CAN, NP & NPK
CAN sales rose 7% MoM and 121% YoY, while NP recorded strong growth of 66% MoM and 115% YoY, as both fertilizers continue to serve as cost-effective substitutes for Urea and DAP in certain cropping regions. In contrast, NPK volumes declined 17% MoM however, registered an increase of 24%YoY. Cumulatively, NP sales in 8MCY25 are down 5% YoY, indicating limited traction despite recent improvements.
Company-Wise Performance
Fauji Fertilizer
Urea sales stood at 324k tons, showing a moderate 19% MoM and 29% YoY increase. However, Cumulative 8MCY25 Urea offtake fell 12% YoY to 1,719k tons, broadly consistent with the overall industry trend of weaker fertilizer demand discussed earlier.
DAP offtake increased to 107k tons in Aug’25, up 25% MoM and 98% YoY, supported by FFBL’s strong supply position and seasonal dealer stocking. However, cumulative 8MCY25 volumes inched up only 3% YoY to 490k tons, constrained by elevated international prices, farmer price sensitivity, and substitution toward relatively cheaper nutrient alternatives such as NP and CAN.
FFC’s DAP leadership remains intact, benefiting from supply-side advantage and seasonal tailwinds, while Urea remains under pressure due to external farm-level factors and recent disruptions in Sindh.
EFERT
EFERT recorded a strong recovery in Aug’25, with Urea sales rising 34% MoM to 278k tons and 71% YoY. However, cumulative 8MCY25 Urea offtake fell 13% YoY, likely due to plant maintenance or gas supply constraints. DAP volumes also surged +111% MoM in Aug but remained down 38% YoY, leading to a sharp 49% YoY contraction over 8MCY25. Meanwhile, NP sales spiked in line with industry trends, up 539% MoM and 495% YoY.
Fatima
Fatima Fertilizer posted robust Urea sales growth of 78% MoM and 32% YoY in Aug’25. However, DAP sales declined 39% MoM, albeit from a low base. On the other hand, performance in value-added nutrients remained strong, with CAN and NP both recording sequential gains; NP volumes rose 104% YoY while CAN surged 121% YoY.
