December 2, 2022 (MLN): Urea sales in the month of November 2022 decreased by 4% YoY to 549,000 tons as compared to 574,000 tons in the same period last year (SPLY), the latest monthly report of fertilizer offtake issued by the National Fertilizer Development Company (NDFC) showed on Friday.

On a monthly basis, Urea offtake increased by 28% MoM due to the commencement of the Rabi season.

During November 2022, EFERT Urea sales fell by 52% YoY to 96,000 owing to lower production due to ATA at the company’s base plant.

On the other side, FFC, FFBL combined, and FATIMA Urea sales moved up by 3% and 89% YoY, to 273,000 tons and 142,000 tons, respectively.

On MoM basis sales of FFC and FFBL combined, and FATIMA increased by 17% and 88% MoM, and urea offtake of EFERT was down by 1% MoM.

In 11MCY22, Urea sales tick up by 2% YoY to 5,748,000 tons, FATIMA witnessed a jump of 28% YoY to 944,000 tons in 11MCY22, on the other side the urea sales of FFC and FFBL combined depicted a dip of 2% YoY to 2,668,000 tons while EFERT’s sales plunged by 19% during 11MCY22 to 1,715,000 tons.

In November 2022, DAP offtake increased by 5% YoY to 231,000 tons due to the Rabi season, the rise in the support price of wheat, and the reduced DAP price.

On a MoM basis, DAP offtake also increased by 3.2x MoM.

EFERT’s DAP offtake during November 2022, posted growth of 2. 3x YoY and 2. 6x MoM to 51,000 tons.

Meanwhile, EFERT’s DAP offtake in 11MCY22 arrived at 232,000k tons, which decreased by 19% YoY.

In 11MCY22, FFC and FFBL’s DAP offtake stood at 618,000 tons, down by 32% YoY.

Albeit, DAP offtake during 11MCY22 slumped by 41 % YoY to 1,043,000 tons.

On the other side, DAP sales of FFC and FFBL clocked in at 141,000 tons in November 2022, recording a jump of 22% YoY and 3.7x MoM.

Inventory position at the end of November 2022, the closing inventory of urea arrived at 356,000 tons compared to 449,000 tons in October 2022.

Moreover, the inventory of DAP is 532,000 tons as of November 2022.

Copyright Mettis Link News

Posted on: 2022-12-02T16:52:06+05:00