LAHORE: Urea sales in Pakistan for July 2025 are projected to reach 608,000 tons, showing a 4% increase compared to June 2025, but a 19% decrease from the same month last year, according to Topline Securities.
The decline in year-on-year sales is attributed to poor farm economics and the impact of the ongoing monsoon season.
For the first seven months of 2025, the total urea offtake is expected to be 2.96 million tons, down 19% from 3.65 million tons in the same period in 2024, again due to weak economic conditions in the agriculture sector.
The closing inventory of urea is expected around 1.28 million tons in July 2025, down from 1.32 million tons in June 2025.
Company-wise, Engro Fertilizers (EFERT) is expected to hold the highest inventory, with 574,000 tons, followed by Fauji Fertilizer Company (FFC) at 330,000 tons, and FATIMA at 306,000 tons.
In terms of sales, EFERT is forecast to report a 16% year-on-year decline, with 207,000 tons in July 2025. FFC, on the other hand, is expected to see a 10% increase in sales, reaching 273,000 tons. FATIMA is also projected to see a 4% increase, with 97,000 tons in July.
Meanwhile, DAP sales in July 2025 are expected to be around 109,000 tons, reflecting a 33% drop from the previous year but a 1% increase from June 2025. For the first seven months of 2025, total DAP offtake is anticipated to be 557,000 tons, down 21% from 2024.
For DAP sales, FFC and EFERT are expected to record 85,000 tons and 3,000 tons, respectively, with other companies contributing 21,000 tons. DAP inventory is expected to be around 276,000 tons by the end of July, down from 323,000 tons in June 2025.
Looking ahead, industry analysts expect urea inventory to remain high, with projections indicating it will close December 2025 at over 1.2 million tons.
