Karachi: Urea sales in Pakistan reached a significant milestone in December 2024, achieving a 4.5-year high of 991,000 tons, marking a 58% increase compared to the previous year. The overall urea sales for the calendar year 2024 amounted to 6.58 million tons, registering a slight decline of 1% from the previous year.

According to a statement by AKD Securities Limited, sales of Di-ammonium Phosphate (DAP) grew by 3% year-over-year, reaching 1.63 million tons in 2024, compared to 1.58 million tons in the same period last year. However, there was a noted decline in the sales of other nutrients, with Calcium Ammonium Nitrate (CAN), Nitrophosphate (NP), and Nitrogen Phosphorus Potassium (NPK) experiencing decreases of 15%, 20%, and 10% year-over-year, respectively.

The statement also highlighted that Fauji Fertilizer Company (FFC) saw an 8% year-over-year increase in urea sales, totaling 3.06 million tons in 2024. This growth has elevated FFC's market share to 47% from 43% in the same period last year.

AKD Securities Limited maintains an overweight stance on the fertilizer sector, citing a stable earnings outlook and higher dividend yields. FFC and Engro Fertilizers Limited (ENGROH) are identified as preferred picks within the sector.