September 04, 2024 (MLN): Fertilizer sales plunged 29.9% compared to last year amid weak agronomic conditions coupled with higher monsoon rains during August 2024, according to data compiled by brokerage house Arif Habib Limited (AHL).
The sales, including urea and DAP fell to 640,000 tonnes compared to 913,000 tonnes in 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 13.8% to 560,000 tonnes as against 650,000 tonnes in August 2023.
While DAP sales decreased 69.6% to 80,000 tonnes compared to a sale of 263,000 tonnes in the same month of last year.
On a company-wise basis, urea offtake of EFERT and FATIMA fell by 30%, and 24% YoY, clocking in at 163,000 tons, and 131,000 tons, respectively.
Conversely, FFC and FFBL group reported an uptick of 1% YoY, clocking at 251,000 tons, AHL said.
Meanwhile, DAP sales of FFC and FFBL combined contracted by 75% YoY to 54,000 tons in August 2024.
Whereas, EFERT’s DAP dispatches in August descended by 64% YoY to arrive at 12,000 tons.
On the flip side, FATIMA Group’s DAP sales witnessed a significant decline of 94% YoY settling at 1,000 tons.
