December 15, 2023 (MLN): The country’s overall nutrient offtake surged by 12.4% YoY to 543,000 tons during November 2023 as compared to an offtake of 483,000 tons in the same month last year, the latest monthly report of fertilizer offtake issued by the National Fertilizer Development Company (NDFC) showed.
Among the nutrients, nitrogen, Phosphate, and potash offtake increased by 8.3%, 22.4%, and 3.87x YoY respectively.
| Nov-22 | Nov-23 | Change in % | |
|---|---|---|---|
| Nitrogen | 351 | 380 | 8.3% |
| Phosphate | 131 | 161 | 22.4% |
| Potash | 0.6 | 2.2 | 286.8% |
| Total | 483 | 543 | 12.4% |
Amount in,000 Tons
Urea, DAP
Product-wise, Urea offtake during November 2023 was 611,000 tons, which increased by 4.8% over November 2022.
DAP offtake was 278,000 tons, 17.7% higher than in November last year.
| Nov-22 | Nov-23 | Change in % | |
|---|---|---|---|
| Urea | 583 | 611 | 4.8% |
| DAP | 236 | 278 | 17.7% |
Amount in,000 Tons
Cumulative Fertilizer Offtake during Rabi 2023-24
Cumulative nutrient offtake during Rabi 2023-24 (Oct-Nov) was 892,000 tones, which increased by 17% over Rabi 2022-23.
Nitrogen, phosphate and potash offtake increased by 9.4%, 41% and 2.22x, respectively.
Urea offtake during Rabi 2023-24 (Oct-Nov) remained 1,070,000 tones (5.6% more than Rabi 2022-23) whereas DAP offtake was 437,000 tones (42% higher than Rabi 2022-23)
Fertilizer production and imported supplies
Total domestic fertilizer production during November 2023 was 808,000 tones.
Urea and DAP production were 574,000 and 71,000 tones, respectively.
Production of other products i.e. CAN, NP and SSP were 77,000, 76,000 and 9,200 tones, respectively.
Total imported supplies were 129,400 tonnes comprising 123,000, 3,500, 1,900 and 900 tonnes of DAP, SOP, MOP and Ammonium Sulphate, respectively
Supply/Demand Situation
Total urea availability during November 2023 was 730,000 tons, which comprised 156,000 tons of the previous month's leftover and 574,000 tons of domestic production.
Urea offtake during November 2023 was 611,000 tons, leaving a closing balance of 119,000 tons.
While the total availability of DAP during November 2023 was 314,000 tons, which included 120,000 tons of stock from the previous month, 123,000 tons of imported supply, and 71,000 tons of domestic production.
Its offtake was 278,000 tons leaving a closing balance of 33,000 tons.
Domestic prices
Prices of all fertilizer products increased during November 2023.
Price of nitrogenous fertilizers Urea (sona), urea (other), CAN increased by 4.8%, 4.5%, 3.2%, respectively during November 2023 as compared with previous month.
The price of DAP, NP, SSP (G), SOP and NPKs increased by 7.3%, 7.6%, 2.4%, 3.3% and 3.9% , respectively over October, 2023.
The average price of urea (sona), urea (other) and DAP was Rs3,968, Rs3,874 and Rs13,071 per 50 kg bag, respectively
International prices
Declining trend in prices of urea in international market was observed during November 2023.
Urea prices were quoted as $360-380 and $315-380 per tonne FOB bulk for China and Arabian Gulf, respectively.
DAP prices were in the range of $554-655 per tonne FOB bulk in Australia and $575-592 per tonne FOB in China.
MAP and TSP bulk prices were $510-531 and $390-455 per tonne FOB, respectively.
Ex-Karachi price of imported urea ranged between Rs6,777 and 7,099 per 50 kg bag, while price of imported DAP was in the range of Rs10,568 to 12,266 per 50 kg bag.
Copyright Mettis Link News
Posted on:2023-12-15T21:05:46+05:00
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