Urea sales rise by 20% due to rumors of taxation on fertilizer industry

MG News | June 25, 2019 at 05:32 PM GMT+05:00

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June 25, 2019 (MLN): Urea sales witnessed a rise of 20 percent during the month of May 2019, as the total offtake during this period stood at 593 thousand tonnes as compared to the same period of last year.

As per the data released by the National Fertilizer Development Centre, the increase in offtake is due to rumors of taxation on fertilizer industry.

The biggest portion of overall offtake during the aforesaid period was sold in Punjab, where around 400 thousand tonnes were consumed. From the remaining amount, 149 thousand tonnes were sold in Sindh, 26 thousand tonnes in Khyber Pakhtunkhwa, 18 thousand tonnes in Balochistan whereas 0.1 thousand tonnes were sold in AJK.

Total urea availability during May 2019 was about 864 thousand tonnes, which comprised 337 thousand tonnes of previous month leftover, and domestic production of 527 thousand tonnes.

Thus closing balance is worked out to be 266 thousand tonnes.

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