Fertilizer offtake decreases by 19.3% YoY in April 2023

May 29, 2023 (MLN): The country’s overall nutrient offtake fell by 19.3% YoY to 260,000 tonnes during April 2023 compared to 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 decreased by 13.6% YoY, 43.9% YoY, and 28.1% YoY respectively during April 2023.

The report underlined that about 792,000 tonnes of fertilizer products were produced in Pakistan during the month of April 2023. The major share was urea with 580,000 tonnes and a share of 73.2%.

Other products were DAP (59,000 tonnes), CAN (74,000 tonnes), Nitrophos (66,000 tonnes), SSP (6,200 tonnes), NPKs (5,000 tonnes), and SOP (6,200 tonnes).

Total imported supplies were 4,300 tonnes comprising  700 tonnes of SOP, 600 tonnes of MOP and 3,000 thousand of AS.

Urea, DAP

The total industry urea offtake stood at 649,000 tonnes in April 2023, comprising 69,000 tonnes of previous season leftover and 580,000 tonnes of domestic production.

Urea offtake during April 2023 was 408,000 tonnes. The closing balance was 240,000 tonnes.

The total availability of DAP during April 2023 was 333,000 tonnes which comprised 274,000 tonnes of opening inventory and 59,000 tonnes of domestic production.

DAP offtake was 51,000 tonnes. The closing balance at the end of April 2023 was 282,000 tonnes.

Domestic prices

During April 2023, prices of mostly fertilizers except nitrogenous fertilizer (urea’s and CAN) decreased during the month under review as compared with the previous month.

Prices of urea (sona), urea (other) and CAN increased by 3.9%, 7.2% and 7.9%, respectively.

The price of DAP, SSP (G), and SOP decreased by 1.3%, 2% and 2.9% respectively, during April 2023.

Prices of NP and NPK slightly decreased by 0.9% and 0.6% over March, 2023

International prices

In the international market, FOB bulk China urea price during April 2023 fluctuated in the range of $345-$355 per tonne.

Middle East FOB bulk urea price was in the range of $285-$330/t.

DAP prices during April 2023 were around U$510-$580/t in Australia, while $528-$565/t in China market.

The ex-Karachi price of imported urea was in the range of Rs5,335 to Rs6,409 per 50 kg bag, ex-Karachi price of DAP ranged from Rs8,782 to Rs9,826 per 50 kg bag, ex-Karachi price of imported urea was in the range of Rs6,434 to Rs7,464 per 50 kg bag.

Copyright Mettis Link News