According to provisional fertilizer offtake data for Oct’21, urea offtake climbed by 23% YoY to 506k tons vis-à-vis 413k tons in SPLY. Offtakes of FFC and FFBL (combined) and FATIMA depicted a jump of 29% and 56% YoY, respectively, while sales of EFERT displayed a dip of 2% YoY.
Similarly, on MoM basis, urea offtake ascended by 4% amid the seasonality factor. EFERT’s offtake registered an increase of 15% MoM. Whereas urea sales of FFC and FFBL (combined) and FATIMA witnessed a fall of 1% and 15% MoM, respectively. On a cumulative basis, urea offtake surged by 10% YoY during 10MCY21, settling at 5,081k tons. The urea sales volume of EFERT displayed a jump of 15%, arriving at 1,898k tons, while FATIMA’s sales swelled up by 34% to 665k tons. Offtake of FFC and FFBL combined showed an uptick of 1% YoY, clocking in at 2,450k tons.
DAP offtake up by 47% MoM in Oct’21
DAP sales reported a surge of 42% YoY / 47% MoM reaching 325k tons during Oct’21. Meanwhile, during 10MCY21, DAP sales fell by 5% YoY, clocking in at 1,527k tons. On a company-specific basis, DAP sales of FFC and FFBL arrived at 167k tons in Oct’21, portraying a YoY and MoM jump of 28% and 39%, respectively. With this, FFC and FFBL’s DAP offtake during 10MCY21 settled at 797k tons, down by 3% YoY. At the same time, EFERT’s DAP sales during Oct’21 swelled up by 68% YoY and 29% MoM to 67k tons. With this, EFERT’s DAP offtake in 10MCY21 plunged by 21% YoY to 265k tons.
Towards the end of Oct’21, the closing inventory of urea with local producers stands at 107k tons compared to 116k tons in Sep’21. Furthermore, the inventory position of DAP is set at 139k tons by the end of Oct’21.
Courtesy – AHL Research