February 16, 2024 (MLN): The country’s overall nutrient offtake dropped by 7.2% YoY to 378,000 tons during January 2024 as compared to an offtake of 407,000 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, Phosphate, and potash offtake, all decreased by 8.3%, 22.4%, and 3.87x YoY respectively.
| Jan-24 | Jan-23 | Change in % | |
|---|---|---|---|
| Nitrogen | 327 | 340 | -3.8% |
| Phosphate | 45 | 60 | -25.6% |
| Potash | 5.3 | 6.1 | -11.8% |
| Total | 378 | 407 | -7.2% |
Amount in,000 Tons
Urea, DAP
Product-wise, Urea offtake during January 2024 was 613,000 tons, which decreased by 2.9% over January 2023.
DAP offtake was 67,000 tons, 30% lower than in January last year.
| Jan-24 | Jan-23 | Change in % | |
|---|---|---|---|
| Urea | 613 | 631 | -2.9% |
| DAP | 67 | 96 | -30% |
Amount in,000 Tons
Cumulative Fertilizer Offtake during Rabi 2023-24
Cumulative nutrient offtake during Rabi 2023-24 (Oct-Jan) was 1,703,000 tones, which decreased by 3.2% over Rabi 2022-23.
Nitrogen, phosphate and potash offtake dropped 6.4%, 8.3% and 45.9%, respectively.
Urea offtake during Rabi 2023-24 (Oct-Jan) remained at 2,130,000 tones (6.7% less than Rabi 2022-23) whereas DAP offtake was 642,000 tones (14.15% higher than Rabi 2022-23).
Fertilizer production and imported supplies
Total domestic fertilizer production during January 2024 was 798,000 tones.
Urea and DAP production were 600,000 and 29,000 tones, respectively.
Production of other products i.e. CAN, NP and SSP were 84,000, 73,000 and 5 tones, respectively.
Total imported supplies were 319,000 tonnes comprising 173,000, 90,000, 50,900 and 3,900 tonnes of DAP, AS, SOP and MOP, respectively.
Supply/Demand Situation
Total urea availability during January 2024 was 877,000 tons, which comprised 105,000 tons of the previous month's leftover, 173,000 tonnes of imported supplies and 600,000 tonnes domestic production.
Urea offtake during January 2024 was 613,000 tons, leaving a closing balance of 264,000 tons.
While the total availability of DAP during the review month was 144,000 tons, which included 25,000 tons of stock from the previous month, 90,000 tons of imported supply, and 29,000 tons of domestic production.
Its offtake was 67,000 tons leaving a closing balance of 72,000 tons.
Domestic prices
Prices of nitrogenous fertilizers increased while that of phosphate and potash decreased during January 2024.
Price of urea (sona), urea (other) and CAN increased by 3.3, 2.4 and 1.9%, respectively during January 2024 as compared with the previous month.
The prices of DAP, SSP (G), NP and SOP decreased by 6.6, 3.5, 2.1 and 0.1%, respectively over December 2023.
The price of NPKs increased by 0.3%. The average price of urea (sona), urea (other) and DAP was Rs4,602, Rs. 4,378 and Rs12,755 per 50 kg bag, respectively.
International prices
Declining trend in Urea prices in China market was observed during January 2024
Urea prices were quoted as $317-347 and $306-370 per tonne FOB bulk for China and Arabian Gulf, respectively.
DAP prices were in the range of $520-642 per tonne FOB bulk in Australia and $580-592 per tonne FOB in China.
MAP and TSP bulk prices were $513-517 and $390-435 per tonne FOB, respectively.
Ex-Karachi price of imported urea ranged between Rs5,809 and 6,821 per 50 kg bag, while the price of imported DAP was in the range of Rs9,824 to 11,837 per 50 kg bag.
Copyright Mettis Link News
Posted on: 2024-02-16T11:54:08+05:00
