According to the provisional fertilizer offtake data for the month of Aug’22, urea offtake depicted a fall of 16% YoY to 542k tons against 649k tons in SPLY owed to heavy rainfall across the country resulting in flash floods. Offtake of FFC and FFBL (combined) and EFERT declined by 31% and 14% YoY, settling at 219k tons and 175k tons, respectively. Whereas, urea sales of FATIMA witnessed a jump of 14% YoY, arriving at 104k tons.
On a MoM basis, urea offtake reported a growth of 17% due to the seasonality factor. Urea sales of FFC and FFBL (combined), EFERT and FATIMA climbed up by 29%, 102%, and 4% MoM, respectively. On a cumulative basis, urea offtake ascended by 4% YoY during 8MCY22, clocking-at 4,251k tons. The offtake of FATIMA witnessed a boost of 31% YoY to 649k tons in 8MCY22. However, the urea sales of FFC and FFBL combined showcased a dip of 1% YoY, settling at 1,925k tons while EFERT’s sales plummeted by 16% during 8MCY22 to 1,359k tons.
DAP offtake plunges by 87% YoY in Aug’22
DAP offtake witnessed a hefty decline of 87% YoY | 65% MoM to 23k tons during Aug’22 owed to floods in the country. Similarly, during 8MCY22, DAP offtake went down by 31% YoY at 675k tons amid higher DAP prices. On a company-specific basis, DAP sales of FFC and FFBL arrived at 13k tons in Aug’22, registering a slump of 87% YoY | 68% MoM. With this, FFC and FFBL’s DAP offtake during 8MCY22 settled at 413k tons, down by 19% YoY. Whereas, EFERT’s DAP sales during Aug’22 plummeted by 40% YoY | 63% MoM to 9k tons. Consequently, EFERT’s DAP offtake in 8MCY22 clocked-in at 143k tons, down by 2% YoY.
By the end of Aug’22, the closing inventory of urea producers stood at 203k tons versus 205k tons in Jul’22. Moreover, the inventory position of DAP is 429k tons as of Aug’22.
Courtesy – AHL Research