January 03, 2023 (MLN): The urea offtake in December 2022 stood at 833,000 tons, showing an increase of 39% YoY as compared to 599,000 tons in the same period last year (SPLY).
On monthly basis, urea dispatched jumped by 43% MoM as compared to 583,000 tons in November 2022, due to the seasonality factor and availability of urea from Engro Fertilizer Limited (EFERT) amid resumption of production from EnVen plant.
The company wise, the urea offtake of Fauji Fertilizer Company Limited (FFC), EFERT, Fatima Group (FATIMA) climbed up by 5%, 16%, and 60% YoY to stood at 277,000, 221,000, and 157,000 tons respectively.
While on monthly basis urea sales of FFC and FFBL (combined) and EFERT increased by 2% and 131% MoM. On the other hand, urea offtake of FATIMA plummeted by 6% MoM.
In December 2022, the Diammonium phosphate (DAP) offtake soared by 37% YoY to clock in at 160,000 tons as compared to 177,000 tons offtake in SPLY.
The increase in DAP offtake is owing to an increase in the support price of wheat and delayed buying of DAP this year, the Arif Habib Limited report noted.
Meanwhile, the DAP offtake plunged by 33% MoM.
DAP sales of FFC, and FFBL (combined), and EFERT increased by 38%, and 220% YoY, whereas on monthly basis DAP offtake of FFC, and FFBL (combined), and EFERT went down by 20% and 38% MoM respectively.
On cumulative basis, in the year 2022, the urea offtake increased by 6% YoY to stood at 6,616,000 tons, however, DAP offtake plunged by 36% YoY to settle at 1,207,000 tons.
