June 06, 2024 (MLN): Amidst the notable drop in international prices, Fauji Fertilizer Limited (PSX: FFC) and Fauji Fertilizer Bin Qasim Limited (PSX: FFBL) have decreased the market retail price of Di-Ammonium Phosphate (DAP) fertilizer by Rs1,805 per bag with effect from June 01, 2024, according to the well-informed sources.
The current DTP prices for FFC DAP and SONA DAP stand at Rs10,985 and Rs11,035 per bag, respectively.
On the demand side, the DAP sales settled at 35,000 tons in May 2024, showcasing a plunge of 47% YoY and 62% MoM on account of the weak purchasing power of farmers amid the wheat crisis, according to the tentative data released by Arif Habib Limited.
Accordingly, DAP offtake during 5MCY24 clocked in at 416,000 tons, up 15% YoY.
On a company-specific basis, DAP sales of FFC and FFBL combined contracted by 36% YoY and 62% MoM to 31k tons in May 2024. Therefore, FFC and FFBL’s DAP offtake during 5MCY24 clocked in at 303,000 tons, witnessing a growth of 33% YoY.
