By: Arif Habib Limited
As per provisional fertilizer offtake figures for Jun-15, urea sales recorded 27% MoM jump to 537k tons, while this figure is up 5% on YoY basis. On 1HCY15 cumulative basis, urea sales recorded 11% YoY increase, mainly due to sales of imported urea during the period under review.
FFC and FFBL’s cumulative urea offtake jumped 17% MoM to 246k tons. Likewise, ENGRO’s urea off-take surged 21% MoM to stand at 182k tons. The major increase was witnessed in NFML’s sales, which jumped significantly by 126% MoM to 51k tons. Closing inventory for urea with the local producers, as of 30-Jun-15, stood at 29k tons, while total urea closing inventory (both local and imported) was recorded at 224k tons.
DAP sales up 3% MoM and 89% YoY in Jun-15, 17% YoY in 1HCY15 DAP sales showed improvement of 3% MoM while a massive 89% YoY to 114k tons in Jun-15. Furthermore, on 1HCY15 basis, DAP sales showed solid growth of 17% YoY to stand at 476k tons. FFBL managed to sell 66k tons of DAP during Jun-15, translating into a jump of 16% MoM, and 60% YoY. Furthermore, 1HCY15 cumulative figures depict 13% YoY jump in sales standing at 242k tons during the period. ENGRO’s DAP sales registered 13% MoM increase to 32k tons during the month. On 1HCY15 basis, ENGRO’s DAP sales jumped by 24% YoY to 119k tons. The closing inventory of DAP as of 30-Jun-15, stood at 281k tons (FFBL and ENGRO holds approximately 111k and 8k tons, respectively).