FFC, FFBL increase DAP prices by Rs307/bag

January 11, 2024 (MLN): Fauji Fertilizer Limited (PSX: FFC) and Fauji Fertilizer Bin Qasim Limited (PSX: FFBL) have increased the market retail price of Di-Ammonium Phosphate (DAP) fertilizer by Rs307 per bag with effect from January 16, 2024, according to the sources.

The current DTP prices for FFC DAP and Sona DAP stand at Rs12,645 and Rs12,696 per bag, respectively. 

During December 2023, DAP sales registered a decline of 13% YoY and 51% MoM to 137,000 tons owing to peak demand in November 2023 for the ongoing Rabi season. 

Albeit, DAP offtake during CY23 settled at 1,575,000 tons, reporting a jump of 31% YoY, according to a report by Arif Habib Limited. 

On a company-specific basis, DAP sales of FFC and FFBL combined contracted by 34% YoY and 16% MoM to 74,000 tons in December 2023.

Hence, FFC and FFBL’s DAP offtake during CY23 clocked in at 951k tons, showcasing a jump of 30% YoY whereas, EFERT’s DAP dispatches in December 2023 witnessed a decrease of 1% YoY and 48% MoM to arrive at 31,000 tons, the report added.

With this, EFERT’s DAP offtake in CY23 climbed up by 6% YoY, arriving at 279,000 tons.

FATIMA Group’s DAP sales displayed a fall of 27% YoY and 90% MoM to reach 4,000 tons in December 2023. Accordingly,  FATIMA’s DAP offtake arrived at 107,000 tons during CY23, surging by 4x YoY.

On the inventory front, the urea inventory stood at 54,000 tons by the end of December 2023 compared to 119,000 tons in November 2023 whereas, DAP inventory settled at 24,000 tons in December 2023 against 32,000 tons in November 2023.

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