Urea sales up 45 per cent in April

Urea sales up 45 per cent in April

Urea sales up 45 per cent in April
Advertisement

KARACHI: The urea offtake showed a growth of 45 per cent to 448,000 tonnes in April 2022, compared with 309,000 tonnes during the same month of last year, a report by Arif Habib Limited showed.

The combined offtake of Fatima Fertilizers Company (FFC) and Fauji Fertilizer Bin Qasim Limited (FFBL) showed an increase of 32 per cent to reach 216,000 tonnes, Engro Fertilizers Limited (EFERT) witnessing an increase of 33 per cent to 146,000 tonnes, and FATIMA 152 per cent to 65,000 tonnes.

However, on a monthly basis, the urea offtake reported a decline of 12 per cent owing to an increase in urea prices by major producers.

On a monthly basis, the urea sales of FFC and FFBL (combined) declined 9 per cent, EFERT 14 per cent and FATIMA’s sales reduced by 12 per cent.

On a cumulative basis, the urea offtake climbed up 22 per cent on a year-on-year basis settling at 2.08 million tonnes during the four months of 2022. The urea offtake of FFC and FFBL combined witnessed a jump of 19 per cent, to reach 964,000 tonnes while FATIMA’s sales augmented by 83 per cent to 314,000 tonnes, whereas, the offtake of EFERT depicted a dip of 2 per cent arriving at 695,000 tonnes.

Advertisement

The DAP sales registered a jump of 59 per cent on a year-on-year basis to 73,000 tonnes during April 2022, while on a monthly basis, the same showed a drop of 9 per cent on a month-on-month basis.

During the four months of 2022, DAP offtake declined 11 per cent on a year-on-year basis to reach 322,000 tonnes.

On a company-specific basis, the DAP sales of FFC and FFBL clocked-in at 38,000 tonnes in April 2022, portraying a growth of 34 per cent on a year-on-year basis. However, FFC and FFBL’s combined DAP offtake dropped 14 per cent on a month-on-month basis.

With this, the FFC and FFBL’s DAP offtake during the period under review settled at 177,000 tonnes, up 3 per cent on a year-on-year basis, whereas EFERT’s DAP sales during April 2022 swelled up 10x on a year-on-year basis and 26 per cent on a month-on-month basis to 26,000 tonnes. The EFERT’s DAP offtake during the four months of 2022 arrived at 83,000 tonnes, up 46 per cent on a year-on-year basis.

By the end of April 2022, the closing inventory of urea with local producers stood at 309,000 tonnes, compared with 200,000 tonnes in March 2022. Furthermore, the inventory position of DAP is 336,000 tonnes as of April 2022.

Advertisement
Advertisement
Read More News On

Catch all the Business News, Breaking News Event and Latest News Updates on The BOL News


Download The BOL News App to get the Daily News Update & Follow us on Google News.


End of Article

Next Story