Karachi, July 8, 2019: Provisional fertilizer offtake for the month of Jun’19 indicates that urea sales witnessed an increase of 8 percent YoY and 11 percent MoM to 659k tons. Cumulatively, urea sales surged by 6 percent YoY to 2.9 million tons during 1HCY19.
According to Arif Habib Limited, In particular, FFC and FFBL’s cumulative urea offtake jumped by 27 percent YoY to 346k tons in Jun’19. However, FFC and FFBL’s cumulative urea sales during 1HCY19 dropped by 6 percent YoY to 1.4 million tons. Additionally, EFERT’s urea offtake went down by 29 percent YoY while this figure is up by 23% MoM to 174k tons during Jun’19.
Meanwhile, on a YoY basis, company’s urea offtake posted 11 percent YoY decline to 0.9 million tons during 1HCY19. Finally, FATIMA’s sales surged by 20 percent YoY and 54 percent MoM in Jun’19 to 110k tons. On a cumulative basis, FATIMA group’s sales posted solid growth of 62 percent YoY to 401k in 1HCY19.
DAP sales depicted a 25 percent YoY dip to 142k tons while this figure is also down by 33 percent MoM during Jun’19. Likewise, during 1HCY19, DAP sales showed a downturn of 8 percent YoY to clock-in at 0.6 million tons. On a company-specific basis, DAP offtake of FFC and FFBL arrived at 84k tons in Jun’19, translating into a YoY drop of 17 percent and 24 percent MoM.
During 1HCY19, FFC and FFBL’s DAP offtake declined by 27 percent YoY to 0.3 million tons. On the other hand, EFERT’s DAP sales registered an increase of 51 percent YoY while dropping by 50 percent MoM in Jun’19 to 30k tons. However, during 1HCY19 EFERT posted growth of 4 percent YoY to 181k tons.
By the end of Jun’19, closing inventory of urea with local producers stood at 138k tons (FFC and FFBL 33k tons, EFERT 2k and FATIMA group 64k). Meanwhile, DAP inventory position closed at 412k tons during the same period (FFBL + FFC and EFERT held approximately 358k and 18k, respectively).
