January urea offtake drops to lowest level since 2019

Pakistan’s urea offtake in January 2026 is projected at about 218,000 tonnes, the lowest in more than six years and down sharply both month-on-month and year-on-year, according to a report by Topline Securities.

The expected January figure represents an 84 per cent decline from December 2025 and a 51 per cent drop compared with January 2025. Advance purchases in December, when sales surged to a record 1.36 million tonnes on heavy manufacturer discounts, contributed to January’s weak demand.

Steady production and lower offtake have pushed closing urea inventory up to about 630,000 tonnes, from roughly 320,000 tonnes at the end of December.

Company-level data show a steep reduction in sales for major producers. Engro Fertilizers’ sales are expected to fall to around 24,000 tonnes in January, down both month-on-month and year-on-year, while Fauji Fertilizer Company and Fatima Fertiliser are also estimated to record significant declines.

Diammonium phosphate (DAP) sales also contracted in January, with total offtake likely near 34,000 tonnes, reflecting weaker market activity across fertilisers.