Fertilizer sales drop 24% in Sep

October 04, 2024 (MLN): Fertilizer sales fell 24.2% compared to last year amid weak agronomic conditions during September 2024, according to data compiled by brokerage house Arif Habib Limited (AHL).

The sales, including urea and DAP, fell to 508,000 tonnes compared to 670,000 tonnes in the same month of last year.

The official monthly report on fertilizer offtake is usually issued by the National Fertilizer Development Company (NDFC) during mid of the month.

According to AHL's data, urea offtake fell 35.3% to 365,000 tonnes as against 564,000 tonnes in September 2023. On a MoM basis, urea sales also plummeted by 35%.

On a company-wise basis, urea offtake of FFC and FFBL Group, and FATIMA reduced by 8% and 20% from last year, clocking in at 231,000 tons, 69,000 tons, and 56,000 tons, respectively.

Meanwhile, the sales of EFERT have plunged by 71% amid higher urea prices compared to other urea manufacturers.

The urea dispatches of FFC and FFBL combined, FATIMA, and EFERT registered a plunge of 8%, 48%, and 65% MoM, respectively.

On the other hand, While DAP sales jumped 34.9% to 143,000 tonnes compared to a sale of 106,000 tonnes in the same month of last year. Compared to last month, DAP sales rose 61% amid pre-buying before the commencement of Rabi season.

On a company-specific basis, DAP sales of FFC and FFBL combined augmented by 13% YoY and 59% MoM, to 86,000 tons in September 2024.

Whereas, EFERT’s DAP dispatches in September 2024 dwindled by 32% YoY, while increasing 33% MoM to arrive at 15,000 tons.

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