Karachi, April 26, 2022 (PPI-OT): Pakistan Fertilizer: Mar’22 urea offtake rise 48%YoY

As per NFDC, Mar’22 urea offtake for the industry clocked in at 509k MT, up 48.3%YoY but contracting 3.4%MoM on account of maintaining additional buffer for upcoming months in case of unforeseen circumstances.

Company wise, FATIMA recorded sales of ~63k MT (+130%YoY/-4.3%MoM), followed by EFERT (~171k MT, +81%YoY/+0.5%MoM) and FFC (~168k MT, +16%YoY/-8.6%MoM) while sales of FFBL declined 15.2%YoY but increased by 12%MoM.

DAP offtake in Mar’22 clocked in at ~80k MT, declining 45%YoY due to substitution effect by urea and NP combined. On MoM basis, offtake registered a growth of 44% in preparation of kharif sowing season.

The current ending inventory now stands at ~276k MT while the requirement for current kharif season stands around ~750k MT. Hence, the additional requirement is ~480k MT among which ~220k MT can be met by local production while rest will have to be met through imports.