Urea offtake drops by 59% YoY during May’20

June 23, 2020 (MLN): The overall urea offtake during the month of May, 2020 was about 240 thousand tonnes, showing a decrease of 59.6 percent over the same month of previous year.

Total nutrient offtake during the first two months of Kharif 2020 (April-May) was about 482 thousand tonnes, exhibiting a drop of 45.5 percent.

Urea availability during Kharif, 2020 is estimated to be around 3479 thousand tonnes, comprising 592 thousand tonnes of previous season left over and local production of 2887 thousand tonnes. Total urea offtake is projected to be around 3048 thousand tonnes during Kharif, 2020. Thus, there will be 423 thousand tonnes of reserve stock for next Rabi 2020-21.

According to a monthly report by National Fertilizer Development Center (NFDC), the urea offtake decreased by 60, 61, 48 and 52 percent in Punjab, Sindh, KP and Balochistan respectively.

Moreover, total urea availability during May 2020 was about 1369 thousand tonnes, which comprised 860 thousand tonnes of previous month leftover and domestic production of 509 thousand tonnes. Urea offtake during May 2020 was about 240 thousand tonnes. Thus, closing balance is worked out to be 1116 thousand tonnes.

Copyright Mettis Link News