March 15, 2024 (MLN): The country’s overall nutrient offtake grew 8.6% YoY to 390,000 tons during February 2024 as compared to an offtake of 359,000 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 by 9.7% and 5.8%, while potash offtake dropped 9.4% on a year on year basis.
| Feb-24 | Feb-23 | Change in % | |
|---|---|---|---|
| Nitrogen | 311 | 283 | 9.7% |
| Phosphate | 74 | 70 | 5.8% |
| Potash | 5.9 | 6.5 | -9.4% |
| Total | 390 | 359 | 8.6% |
Amount in,000 Tons
Urea, DAP
Product-wise, Urea offtake during February 2024 was 543,000 tons, which surged by 8.1% over February 2023.
DAP offtake was 115,000 tons, 18% higher than in February last year.
| Feb-24 | Feb-23 | Change in % | |
|---|---|---|---|
| Urea | 543 | 503 | 8.1% |
| DAP | 115 | 98 | 18% |
Amount in,000 Tons
Cumulative Fertilizer Offtake during Rabi 2023-24
Cumulative nutrient offtake during Rabi 2023-24 (Oct-Feb) was 2,093,000 tones, which decreased by 1.2% over Rabi 2022-23.
Nitrogen offtake decreased by 3.7% while phosphate and potash offtake increased by 7.9% and 22.3%, respectively.
Urea offtake during Rabi 2023-24 (Oct-Feb) remained at 2,854,000 tones (4.2% less than Rabi 2022-23) whereas DAP offtake was 758,000 tones (15% higher than Rabi 2022-23).
Fertilizer production and imported supplies
Total domestic fertilizer production during February 2024 was 776,000 tones.
Urea and DAP production were 550,000 and 72,000 tones, respectively.
Production of other products i.e. NP, CAN, various grades of NPKs, SSP and SOP was 71,000, 67,000, 7,000, 6,900 and 1,500 tonnes, respectively.
Total imported supplies were 9,000 tonnes comprising 71,800, 13,700, 3,400 and 1,000 tonnes of DAP, AS, SOP and MOP, respectively.
Supply/Demand Situation
Total urea availability during February 2024 was 813,000 tons, which comprised 264,000 tons of the previous month's leftover and 550,000 tonnes of domestic production.
Urea offtake during February 2024 was 543,000 tons, leaving a closing balance of 270,000 tons.
The total availability of DAP during the review month was 204,000 tons, which included 60,000 tons of stock from the previous month, 72,000 tons for each of imported supply and domestic production.
Its offtake was 115,000 tons leaving a closing balance of 89,000 tons.
Domestic prices
Prices of nitrogenous fertilizers increased while that of phosphate and potash decreased during February 2024.
The price of urea (sona), urea (other) and CAN increased by 1.9, 1.6 and 2.8%, respectively during February 2024 as compared with the previous month.
The prices of DAP, SSP (G), and NP decreased by 2.8, 0.8 and 3%, respectively over January 2023.
There was slight increase in prices of SOP and various grades of NPKs by 0.4 and 0.9%, respectively.
The average price of urea (sona), urea (other) and DAP was Rs4,691, Rs4,446 and Rs12,399 per 50 kg bag, respectively.
International prices
Urea prices were quoted as $316-342 and $370-385 per tonne FOB bulk for China and Arabian Gulf, respectively.
DAP prices were in the range of $525-642 per tonne FOB bulk in Australia and $580-595 per tonne FOB in China.
MAP and TSP bulk prices were $504-521 and $400-440 per tonne FOB, respectively.
Ex-Karachi price of imported urea ranged between Rs5,946 and 7,032 per 50 kg bag, while the price of imported DAP was in the range of Rs9,870 to 11,793 per 50 kg bag.
Copyright Mettis Link News
Posted on: 2024-03-15T14:08:13+05:00
