Pakistan’s urea sales in June 2024 are expected to reach 483,000 tons, a 21% year-on-year (YoY) decrease from 610,000 tons in June 2023, according to data compiled by Topline Pakistan Research.
However, sales are projected to increase by 21% month-on-month (MoM) due to the ongoing Kharif crop sowing.
For the first half of 2024, urea sales are expected to total 3.038 million tons, slightly down by 2% YoY compared to 3.101 million tons in the first half of 2023.Â
The closing inventory of urea in June 2024 is likely to be around 474,000 tons, compared to 215,000 tons in June 2023 and 368,000 tons in May 2024, marking the highest inventory level in 37 months.
Among the companies, Engro Fertilizers (EFERT) is expected to record a 26% YoY decrease in sales to 155,000 tons in June 2024, mainly due to the closure of its Enven plant for scheduled maintenance, which resumed operations on June 18, 2024.Â
Fauji Fertilizer Company (FFC) is projected to record sales of 240,000 tons, down 13% YoY, followed by Fatima Group with 42,000 tons, down 44% YoY, and Fauji Fertilizer Bin Qasim (FFBL) with 18,000 tons, down 13% YoY.
Total DAP sales in June 2024 are anticipated to be around 122,000 tons, a 138% YoY increase due to a low base effect. This brings the total DAP sales for the first half of 2024 to 544,000 tons, up 5% YoY.Â
Company-wise, FFBL and EFERT are likely to record sales of 81,000 tons and 31,000 tons, respectively, followed by FFC’s sales of 6,000 tons in June 2024.
As per the brokerage note, the closing inventory of DAP is expected to be around 167,000 tons in June 2024, compared to 275,000 tons in June 2023 and 117,000 tons in May 2024.
