Urea sales in Pakistan fell by 35% year-on-year (YoY) to 365,000 tons in September 2024, down from 564,000 tons in the same period last year, largely due to weak agronomic conditions, according to Arif Habib Limited.

On a company basis, the urea offtake for FFC and FFBL Group, as well as FATIMA, declined by 8% and 20% YoY, reaching 231,000 tons, 69,000 tons, and 56,000 tons, respectively. EFERT’s sales saw a steep drop of 71% YoY due to higher urea prices compared to other manufacturers.

Month-on-month (MoM), urea sales also plunged by 35%, with FFC and FFBL, FATIMA, and EFERT registering MoM declines of 8%, 48%, and 65%, respectively.

For the cumulative period of 9MCY24, overall urea sales decreased by 8% YoY to 4.573 million tons. FATIMA and EFERT saw reductions of 23% and 11%, reaching 621,000 tons and 1.322 million tons, respectively, while FFC and FFBL posted a 3% YoY growth, achieving 2.224 million tons.

DAP Sales

DAP sales in September 2024 hit 143,000 tons, reflecting a 35% YoY and 61% MoM increase, driven by pre-buying ahead of the Rabi season. Total DAP offtake for 9MCY24 was 939,000 tons, a 6% decline YoY.

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