October 18, 2023 (MLN): The country’s overall nutrient offtake surged by 26% YoY to 384,000 tons during September 2023 as compared to an offtake of 304,762 tons in the same month last year, the latest monthly report of fertilizer offtake issued by the National Fertilizer Development Company (NDFC) showed.
Among the nutrients, nitrogen, Phosphate, and potash offtake increased by 19%, 72%, and 42% YoY respectively.
| Sep-22 | Sep-23 | Change in % | |
|---|---|---|---|
| Nitrogen | 264 | 314 | 19% |
| Phosphate | 38 | 66 | 72% |
| Potash | 2.3 | 3.3 | 42% |
| Total | 304 | 384 | 26% |
Amount in Thousand Tons
Cumulative nutrient offtake during Kharif 2023 (April-September) was 2,449,000 tons, which increased by 21.1% over the same timeframe of Kharif 2022.
Nitrogen, phosphate, and potash offtake increased by 13.2%, 65%, and 38.8% YoY, respectively.
Urea, DAP
Product-wise, Urea's offtake during September 2023 was 564,000 tons, which increased by 11.1% YoY. DAP offtake was 106,000 tons, 68.7% higher than September last year which may be attributed to historically low offtake in September 2022 due to floods and extraordinarily high prices.
| Sep-22 | Sep-23 | Change in % | |
|---|---|---|---|
| Urea | 508 | 564 | 11.1% |
| DAP | 63 | 106 | 68.7% |
Amount in Thousand Tons
Urea and DAP offtake was 3,322,000 and 756,000 tons which increased by 5.9% and 54%, respectively over the same time frame of Kharif 2022.
Total urea availability during September 2023 was about 641,000 tons, which comprised 87,000 tons of the previous month's leftover and 554,000 tons of domestic production.
Urea offtake during August 2023 was 564,000 tonnes, leaving a closing balance of 77 thousand tonnes for October 2023
While the total availability of DAP during September 2023 was 140,000 tons, which included 40,000 tons of stock from the previous month, 33,000 tons of imported supply, and a domestic production of 67,000 tons. DAP offtake was 106,000 tons. The closing balance worked out to be 29,000 tons.
Domestic prices
Prices of all fertilizers increased during September 2023 as compared with the previous month. The average price of urea (sona), urea (other), and DAP increased by 6.2%, 4.7%, and 12.8% MoM, respectively
International prices
An increasing trend in prices of almost all fertilizers in the international market was noted during August 2023.
Urea prices were quoted as $370-385 and $360-410 per ton FOB bulk for China and the Arabian Gulf, respectively.
DAP prices were in the range of $544-678 per ton FOB bulk in Australia and $560-585 per ton FOB in China.
MAP and TSP bulk prices were $495-514 and $380-450 per ton FOB, respectively.
Ex-Karachi price of imported urea ranged between Rs7,048 and 7,887 per 50 kg bag, while the price of imported DAP was in the range of Rs10,564 to 12,853 per 50 kg bag.
Fertilizer production and imported supplies
Total domestic fertilizer production during September 2023 was 776,373 tons.
Urea and DAP production were 554,000 and 67,000 tons, respectively.
Production of other products i.e. NP, CAN, SSP, and SOP were 74,000, 73,000, 6,100, and 3,000 tons, respectively.
Total imported supplies during September 2023 were 39,200 tons comprising 33,000, 3,000, 2,700, and 300 tons of Ammonium Sulphate, SOP, DAP, and MAP, respectively.
Copyright Mettis Link News
Posted on: 2023-10-18T10:56:47+05:00
