Fertilizer offtake drops 6.3% YoY in April 2024

May 15, 2024 (MLN): The country’s overall nutrient offtake fell 6.3% YoY to 244,000 tons during April 2024 as compared to an offtake of 260,000 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, and Phosphate offtake increased significantly by 40.5% and 84.4%, while potash offtake dropped 9.2% on a year on year basis.

Amount in,000 Tons

Urea, DAP

Product-wise, Urea offtake during April 2024 was 328,000 tons, which fell by 19.7% over April 2023.

DAP offtake was 93,000 tons, 82% higher than in April last year. 

Amount in,000 Tons

Supply/Demand Situation

Total urea availability during April 2024 was 697,000 tons, which comprised 174,000 tons of previous month leftover and 524,000 tons domestic production.

Urea offtake during April 2024 was 328,000 tons, leaving a closing balance of 368,000 tons

Total availability of DAP during April 2024 was 208,000 tons, which included 78,000 tons stock of previous month, 64,000 tons of imported supply and 66,000 tons domestic production.

Its offtake was 93,000 tons leaving closing balance of 117,000 tons.

Domestic prices

Prices of nitrogenous fertilizers increased slightly while that of phosphate (except SSP) decreased during April 2024.

Price of urea (sona), urea (other) and CAN increased by 0.1, 1.0, and 1.8%, respectively during April 2024 as compared with previous month.

The prices of DAP, NP and various grades of NPKs decreased by 1.4, 1.1, and 0.1%, respectively over March, 2024.

Price of SOP and SSP increased by 0.4 and 0.1%, respectively during month under review.

The average price of urea (sona), urea (other), and DAP was Rs. 4,882, Rs4,631, and Rs12,174 per 50 kg bag, respectively.

International prices

Declining trend in Urea prices in Arabian Gulf was observed during April 2024.

Urea prices were quoted as $291-315 and $280-335 per tonne FOB bulk for China and Arabian Gulf, respectively.

DAP prices were in the range of $492-649 per tonne FOB bulk in Australia and $520-570 per tonne FOB in China.

MAP and TSP bulk prices were $518-525 and $395-440 per tonne FOB, respectively.

Ex-Karachi price of imported urea ranged between Rs5,358 and 6,220 per 50 kg bag, while price of imported DAP (China) was in the range of Rs9,747 to 10,566 per 50 kg bag.

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