EFERT urea sales showed a jump of 18% in 8MCY21

Sales of fertilizers in Pakistan during the month of Aug 21 recorded a mixed trend. As per the provisional fertilizer offtake data, urea sales climbed up by 13% YoY to 649k tons compared to 573k tons in SPLY. Offtake of EFERT and FATIMA showcased a hefty surge of 25% and 72% YoY, respectively; while sales of FFC and FFBL (combined) witnessed a drop of 7% YoY.

Similarly, on a MoM basis, urea offtake portrayed an uptick of 4%. Urea sales of FFC and FFBL (combined) and FATIMA reported a growth by 11% and 17% MoM, respectively. Whereas, EFERT’s offtake declined by 15% MoM.

On a cumulative basis, urea offtake increased by 7% YoY during 8MCY21, arriving at 4,088k tons. The urea sales volumes of EFERT showed a jump of 18%, clocking-in at 1,610k tons while FATIMA’s sales were up by 23% at 494k tons. However, offtake of FFC and FFBL combined displayed a dip of 3% YoY, settling at 1,953k tons.

DAP offtake plummets by 2% MoM in Aug’21

DAP sales registered a decline of 35% YoY and 2% MoM, reaching 190k tons during Aug’21. The fall in YoY and MoM sales is attributable to sharp hike in DAP prices. Meanwhile, during 8MCY21, DAP sales dropped by 14% YoY, settling at 985k tons. On a company specific basis, DAP sales of FFC and FFBL clocked-in at 95k tons in Aug’21, translating into a YoY and MoM reduction of 43% and 20%, respectively. With this, FFC and FFBL’s DAP offtake during 8MCY21 settled at 510k tons, down by 12% YoY. Whereas, EFERT’s DAP sales during Aug’21 plummeted by 79% YoY and 61% MoM to 14k tons. Hence, EFERT’s DAP offtake for 8MCY21 plunged by 41% YoY to 146k tons.

Inventory position

By the end of Aug’21, closing inventory of urea with local producers is set at 186k tons as compared to 321k tons in Jul’21. Furthermore, inventory position for DAP stands at 172k tons towards end of Aug’21.

Courtesy – AHL Research

Posted in Article & Features.

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