Urea sales in Karachi plummeted to a three-year low, dropping by 49% month-on-month to 328,000 tonnes in April and 33% year-on-year. Sherman Research reported that DAP sales also decreased by 12% to 92,000 tonnes month-on-month but saw an 82% increase year-on-year. The decline in fertiliser sales is attributed to the delayed wheat harvesting season and anticipation of a urea price decline, leading dealers to be cautious in their purchases. Media reports about the government monitoring recent urea price hikes have further fueled concerns among farmers.
In April, Engro Fertiliser’s urea sales declined to 76,000 tonnes compared to 119,000 tonnes in March, marking a 36% month-on-month decrease and a 49% year-on-year drop. Additionally, the company’s DAP sales plummeted by 53% month-on-month to 10,000 tonnes. Fauji Group’s urea sales were recorded at 223,000 tonnes, down by 12% from March’s 253,000 tonnes.
According to Sherman Research, Engro Fertiliser holds the highest urea inventory level, around 143,000 tonnes, followed by Fatima Group and FFC, with 138,000 tonnes and 64,000 tonnes, respectively.
More at: Urea sales hit three-year low – Business – DAWN.COM
