Urea offtake shows a record increase due to discounts offered by fertilizer companies

MG News | July 24, 2020 at 07:29 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

July 24, 2020 (MLN): The total Urea offtake during June 2020 was 1165 thousand tonnes, showing an increase of 81.3 percent over June 2019.

This record offtake of urea is due to discount of Rs. 50 per bag offered by fertilizer companies and also due to the fact that offtake of urea was less by 33 per cent during first five months from January to May 2020 compared with same time frame of last year.

According to National Fertilizer Development Centre (NFDC), the cumulative Urea offtake during first three months of Kharif 2020 was 1647 thousand tonnes, showing an increase of 7.8 percent over the same timeframe of Kharif 2019.

The offtake of urea during June, 2020 increased by 74, 89, 86 and 148 percent in Punjab, Sindh, KP and Balochistan respectively

Total urea availability during June 2020 was about 1585 thousand tonnes, which comprised 1116 thousand tonnes of previous month leftover and 469 thousand tonnes of domestic production. Urea offtake during June 2020 was 1165 thousand tonnes. The closing balance works out to be 414 thousand tonnes.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	179,571.27 436.67M	1.06% 1878.35
ALLSHR	108,600.94 844.23M	1.00% 1073.54
KSE30	53,548.42 162.02M	0.99% 525.53
KMI30	256,725.70 154.74M	0.76% 1936.43
KMIALLSHR	70,620.69 563.61M	0.98% 683.55
BKTi	48,625.03 36.31M	1.37% 658.39
OGTi	37,179.52 8.29M	0.94% 345.85

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	60,390.00	63,160.00 60,250.00	-1975.00 -3.17%
BRENT CRUDE	74.08	77.00 73.22	-3.00 -3.89%
RICHARDS BAY COAL MONTHLY	115.00	0.00 0.00	0.50 0.44%
ROTTERDAM COAL MONTHLY	126.50	126.50 125.90	0.50 0.40%
USD RBD PALM OLEIN	1,157.50	1,157.50 1,157.50	0.00 0.00%
CRUDE OIL - WTI	70.48	73.18 69.63	-2.73 -3.73%
SUGAR #11 WORLD	14.06	14.08 13.81	0.11 0.79%