Urea, DAP sales rise 8% in Oct

November 15, 2024 (MLN): Fertilizer sales, including urea and DAP, rose 7.6% compared to last year during October 2024, according to monthly report issued by the National Fertilizer Development Company (NDFC).

The sales rose to 667,000 tonnes compared to 620,000 tonnes in the same month of last year.

Urea offtake fell 22.0% to 358,000 tonnes as against 459,000 tonnes in October 2023.

While DAP sales surged 91.9% to 309,000 tonnes compared to a sale of 161,000 tonnes in the same month of last year.

Supply/Demand Situation

Total urea availability during October 2024 was 1,212,000 tonnes, which comprised 622,000 tonnes of previous month leftover and 590,000 tonnes domestic production.

Urea offtake during October 2024 was 358,000 tonnes, leaving a closing balance of 841,000 tonnes.

Total availability of DAP during October 2024 was 616,000 tonnes, which included 384,000 tonnes stock of previous month, 156,000 tonnes of imported supplies and 77,000 tonnes domestic production.

Its offtake was 309,000 tonnes leaving closing balance of 307,000 tonnes.

Domestic prices

Prices of nitrogenous and potash fertilizer decreased during month under review while that of phosphatic fertilizer increased. Price of urea (sona), urea (other), and CAN decreased by 1.3, 1.0, and 0.6%, respectively.

Prices of phosphate fertilizer products such as DAP and NP increased by 1% each while SSP increased by 0.5%.

The average price of urea (sona), urea (other), and DAP was Rs4,582, Rs4,451, and Rs11,940 per 50 kg bag, respectively.

International prices

Price of urea in China market remained stable during October 2024 while it increased by $22 per tonne in Arabian Gulf. Urea prices were quoted as $262-281 and $361-390 per tonne FOB bulk for China and Arabian Gulf, respectively.

Price of DAP remained stable in both Australia and China market. DAP prices were in the range of $600-660 per tonne FOB bulk in Australia and $610-620 per tonne FOB in China.

MAP and TSP bulk prices were $580-605 and $490-510 per tonne FOB, respectively.

Ex-Karachi price of imported urea ranged between Rs5,071 and 7,075 per 50 kg bag, while price of imported DAP (China) was in the range of Rs10,964 to 11,127 per 50 kg bag.

Nutrient Offtake

Total nutrient offtake during October 2024 was 422,000 tonnes, reflecting an increase of 20.3% over October 2023

 In nutrient terms, nitrogen offtake decreased by 4.1%, while phosphate and potash offtake increased by 91.1 and 82.6%, respectively.

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