Fertilizer offtake increases 27.98% MoM in November’24

MG News | December 16, 2024 at 08:44 PM GMT+05:00
December 16, 2024 (MLN): The country’s overall nutrient offtake in November 2024 was 540 thousand tonnes, showing a 27.98% increase compared to October 2024, the latest monthly report of fertilizer offtake issued by the National Fertilizer Development Company (NDFC) showed.
On a yearly basis, the overall nutrient offtake in November dropped by a 0.7% decrease compared to 544 thousand tonnes in November 2023.
Among the nutrients offtake increased 3.3%, while phosphate and potash offtake decreased by 9.7% YoY and 18% YoY.
|
Nov-23 |
Nov-24 |
Change in % |
---|---|---|---|
Nitrogen |
380 |
392 |
3.3% |
Phosphate |
161 |
145 |
-9.7% |
Potash |
2.8 |
2.3 |
-18.0% |
Total |
544 |
540 |
-0.7% |
Urea, DAP
Urea offtake was 654 thousand tonnes which increased by 7% while DAP offtake was 250 thousand tonnes which decreased by 10.1% over November 2023.
|
Nov-23 |
Nov-24 |
Change in % |
---|---|---|---|
Urea |
611 |
654 |
7.0% |
DAP |
278 |
250 |
-10.1% |
Fertilizer production and imported supplies
Total domestic fertilizer production during November 2024 was 755 thousand tonnes.
Urea and DAP production was 566 and 72 thousand tonnes, respectively.
Production of other products i.e., CAN, NP, SSP and SOP was 56, 52, 6.6 and 3.1 thousand tonnes, respectively.
Total imported supplies were 0.5 thousand tonnes comprising of MAP only.
Supply/Demand Situation
Total availability in November 2024, urea offtake increased by 7% to 654,000 tons. Domestic production for November was 566,000 tons.
DAP offtake for November 2024 decreased by 10.1% to 250,000 tons, while domestic production was 72,000 tons.
Total nutrient offtake for November 2024 was 540,000 tons, a 0.7% decrease from November 2023.
Nitrogen offtake rose by 3.3%, and Phosphate and potash offtake declined by 9.7% and 18%, respectively.
Total fertilizer production for November 2024 was 755,000 tons, Key products are Urea: 566,000 tons DAP: 72,000 tons CAN: 56,000 tons NP: 52,000 tons SSP: 6.6 thousand tons SOP: 3.1 thousand tons.
Domestic prices
The price of urea (sona), urea (other), and CAN decreased slightly by 0.2%, 0.1%, and 0.8 %, respectively, during October 2023 as compared with the previous month.
On the other hand, Prices of phosphate fertilizer products such as SSP, DAP, and NP increased by 1.3%, 0.8%, and 0.3% while that of SOP increased by 0.7%.
The average price of urea (sona), urea (other), and DAP was Rs. 4,573, Rs. 4,446, and Rs. 12,033 per 50 kg bag, respectively.
International prices
The price of urea in the Chinese market was quoted at $8 per tonne in November 2024, while in the Arabian Gulf, it dropped by $38 per tonne.
Urea prices were quoted as $257-266 and $345-370 per tonne FOB bulk for China and the Arabian Gulf, respectively.
DAP prices in Morocco decreased by $10 per tonne, while prices in China remained stable. In November 2024, prices ranged from $585-625 per tonne of FOB bulk in Morocco and $610-620 per tonne of FOB bulk in China.
MAP and TSP bulk prices were $570-600 and $465-505 per tonne FOB, respectively.
Ex-Karachi price of imported urea ranged between Rs4,995 and 6,764 per 50 kg bag, while price of imported DAP was in the range of Rs10,722 to 11,376 per 50 kg bag.
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