Urea sales in Pakistan for November 2024 are projected at 652,000 tons, reflecting a 7% YoY increase from 611,000 tons in November 2023 and an 82% MoM rise due to Rabi demand. However, cumulative urea sales for 11M2024 are expected to decline 7% YoY, totaling 5.58 million tons, attributed to weak farm economics. Closing urea inventory for November is estimated at 789,000 tons, down from 841,000 tons in October.
Company-wise, FFC leads with 226,000 tons (up 13% YoY), followed by EFERT at 191,000 tons (down 12% YoY), FATIMA at 124,000 tons (down 1% YoY), and FFBL at 57,000 tons (up 34% YoY).
DAP sales for November are projected at 239,000 tons, marking a 14% YoY and 23% MoM decline, while cumulative DAP sales for 11M2024 are expected to grow 3% YoY to 1.47 million tons. FFBL leads DAP sales with 98,000 tons, followed by EFERT with 48,000 tons and FFC with 36,000 tons.
Urea inventory is led by EFERT at 348,000 tons, followed by FATIMA at 209,000 tons, and FFC and FFBL collectively at 153,000 tons. DAP inventory for November is projected at 142,000 tons, significantly higher YoY but down from 306,000 tons in October.
