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Urea sales surge 5% in November

Urea sales surge 5% in November

Urea sales surge 5% in November

Urea sales surge 5% in November

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KARACHI: Urea off-take grew 5 per cent to 561k tonnes in November 2021, compared with 533k tonnes in the same month of the last year, provisional fertiliser off-take data for the month suggests.

Sales of Fauji Fertilizer Company (FFC) and Fauji Fertilizer Bin Qasim (FFBL) depicted a jump of 6 per cent, while Engro Fertilizer’s (EFERT) off-take increased 3 per cent in November on a yearly basis.

The sales of Fatima Fertilizer remained stable. Similarly, on a sequential basis, urea off-take climbed 9 per cent due to higher demand in the Rabi season.

On a cumulative basis, urea off-take observed a jump of 10 per cent during the 11 months of CY21 (January-November 2021), settling at 5.65 million tonnes.

The urea sales volume of EFERT increased 15 per cent to reach 2.095 million tonnes, while Fatima’s sales climbed 30 per cent to 740k tonnes in 11 months.

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The off-take of FFC and FFBL combined displayed an uptick of 2 per cent to arrive at 2.714 million tonnes.

DAP sales reported a decline of 41 per cent, reaching 217k tonnes during November 21, amid massive surge in DAP prices on a yearly basis.

Meanwhile, during the period under review, DAP sales fell 11 per cent to clock-in at 1.761 million tonnes.

Towards the end of November 2021, closing inventory of urea with local producers stood at 83k tonnes, compared with 140k tonnes in October 2021. Further, the inventory position of DAP is set at 129k tonnes by the end of November 2021.

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