Urea offtake to decline by 17pc YoY in Sep-19 at 401k tons

Karachi, October 08, 2019: Pakistan urea sales for the month of Sep-2019 is expected to decline by 17 percent YoY to clock in at 401k tons. On monthly basis, industry urea sales is expected to decrease by 36 percent MoM owing to hike in urea prices by Rs 200 per bag in month of September 2019 along with low demand season.

Overall sales for 9 million 2019 is estimated to clock in at 4.3 million tons; up by 6 percent YoY compared to 4.1 million tons in the same period last year.

Among the companies, Fauji Fertilizer Bin Qasim (FFBL) is anticipated to post the decline of 48 percent YoY in its urea off-takes to 37k tons followed by Engro Fertilizer (EFERT) and Fauji Fertilizer Limited (FFC) which are projected to post a decline of  47 percent YoY and 22 percent YoY to 90k tons and 175k tons, respectively. Imported urea offtake is expected around 44k tons during the month of September 2019.

Urea production during September 2019 is expected to depict a growth of 18 percent YoY majorly due to resumption in production by LNG based player FatimaFert (FATIMA) and Agritech (AGL), taking industry’s inventory to 473k tons.

Total DAP sales is anticipated to clock around 190k tons, down by 4 percent YoY, while during  9M2019 DAP sales are down by 9 percent YoY to 1.1 million tons. Among companies, FFBL to record sales of 107k tons followed by EFERT 35k tons and FFC 17k tons. Total  DAP inventory is expected to clock around 450k tons.

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