Karachi, The fertilizer industry is poised for significant sales growth in March 2024, with Urea and DAP (Diammonium Phosphate) sales expected to increase markedly. Urea sales are projected to reach 590,000 tons, marking a 21% increase year-over-year (YoY) and a 9% rise month-over-month (MoM). DAP sales are forecasted to hit around 119,000 tons, showing a dramatic 132% rise YoY and a 3% increase MoM, aligning with the Kharif season's demand.

According to JS Global, Fauji Fertilizer Company (FFC) is set to achieve a volumetric growth in Urea sales, with estimates of 232,000 tons, indicating an 8% increase YoY and 2% MoM. Engro Fertilizer (EFERT) is also expected to see a robust increase in Urea sales, with a projected 35% rise YoY and 2% MoM during March 2024. Notably, Fauji Fertilizer Bin Qasim Ltd is anticipated to record the highest quarterly DAP sales in the last seven years during the first quarter of fiscal year 2024.

The report from JS Global highlights the fertilizer sector's stable revenue and cash flow streams, maintaining a positive outlook for the industry. It underscores the need for clarity on gas pricing for MARI-based companies to ensure a level playing field and prevent price anomalies in the fertilizer market.