Jan’23: Urea sales up by 3% YoY

Based on the tentative fertilizer sales data, urea dispatches for the month of Jan’23 depicted an uptick of 3% YoY to 616k tons compared to 598k tons in SPLY. On a company-wise basis, urea sales of FFC and FFBL combined and FATIMA declined by 15% and 50% YoY, to clock in at 219k tons and 50k tons, respectively. Meanwhile, EFERT’s offtake reported an uptick of 3% YoY, arriving at 216k tons. Whereas, sales from NFML of 130k tons was reported during the month. Similarly, on a MoM basis, urea offtake plummeted by 26% owing to the peak demand in Dec’22 amid seasonality factor. That said, sales of EFERT, FFC and FFBL (combined), and FATIMA depleted by 2%, 21%, and 68% MoM, respectively.  Moreover, NFML offtake witnessed a decline of 12% MoM..

DAP offtake dips by 13% YoY in Jan’23

DAP offtake showcased a plunge of 13% YoY to settle at 98k tons during Jan’23 due to higher DAP prices. On a MoM basis, the DAP sales reported a decline of 38% amid seasonality factor. On a company-specific basis, DAP sales of FFC and FFBL clocked in at 62k tons in Jan’23, witnessing a decline of 10% YoY | 46% MoM. Similarly, EFERT’s DAP sales in Jan’23 depicted slump of 6% YoY | 31% MoM to 22k tons.

Inventory position

The closing inventory of urea toward the end of Jan’23 urea settled at 244k tons compared to 249k tons in Dec’22. Whereas, the inventory of DAP arrived at 412k tons in Jan’23 vis-à-vis 436k tons in Dec’22.

Courtesy- AHL Research