March 31, 2023 (MLN): The country’s overall nutrient offtake has increased by 7.7% YoY in February 2023, compared to the same month last year to stand at 359 thousand tonnes, the latest monthly report of fertilizer offtake issued by the National Fertilizer Development Company (NDFC) showed.
During the review month, Phosphate and potash offtake jumped by 62.8% YoY and 54.4% YoY, respectively, while nitrogen offtake decreased by 1.2% YoY.
Urea offtake during February 2023 clocked in at 503 thousand tonnes, down by 4.6% YoY as compared to February 2022.
DAP offtake stood at 98 thousand tonnes, witnessing a surge of 76.3% YoY over February 2022. This increase in DAP offtake is due to low offtake during last year February 2022, the report read.
Total fertilizer nutrient offtake during Rabi 2022-23 (October-February) clocked in at 2,119 thousand tonnes, down by 2.7% compared with the same time frame of last Rabi (2021-22). On the other hand, Nitrogen offtake increased by 3% YoY, while phosphate and potash offtake decreased by 17.9% YoY and 54.2% YoY.
In product terms, urea offtake was 2,980 thousand tonnes which increased by 6% YoY, whereas DAP offtake was 659 thousand tonnes, showing a decline of 22.2% YoY over the same time frame of the previous Rabi 2021-22.
With regards to production, the production of all fertilizer products during February 2023 stood at 544 thousand tonnes.
Out of this, urea production reached 455 thousand tonnes which is 83.7% of total production. Other products were DAP 14 thousand tonnes, CAN 40 thousand tonnes, Nitrophos 30 thousand tonnes, SSP 3.1 thousand tonnes, and SOP 0.79 thousand tonnes.
Meanwhile, the imported supply was only 1 thousand tonnes of AS during February 2023.
Prices of all fertilizers increased except SOP during the month under review as compared with the previous month.
Prices of urea (sona) and urea (other) increased by 5.5% MoM and 5% MoM mainly due to the escalation of gas prices.
Prices of DAP, NP, SSP, CAN and NPK increased by 7.3% MoM, 4.5% MoM, 0.2% MoM, 4% MoM and 1.5% MoM, respectively. While the price of SOP decreased by 6.7% MoM as compared to the previous month.
In the international market, FOB bulk China urea price was quoted at $380-410/t during February 2023. FOB bulk Middle East prices were reported at $340-380/t.
DAP Australia (Bulk) prices were seen in the range of $560-665/t, while DAP prices in China ranged between $625-645/t fob bulk.
The price of imported urea was in the range of Rs5,816 to Rs6,391 per 50 kg bag, while that of DAP ranged from Rs8,951 to Rs10,418 per 50 kg bag.
Copyright Mettis Link News
Posted on: 2023-03-31T10:48:38+05:00
