LAHORE -


The urea sales have surged by 42 per cent monthly to stand at 445,000 tons in May 2013. The off-take was also up 18 per cent annually. On 5MCY13 basis, the sales surged 22 per cent YoY. Improved urea sales can be attributed to the commencement of the Kharif season as well as pre-buying on account of expected increase in fertilizer prices due to expected increase in gas prices (for both fuel and feed stock) from July onwards.
According to provisional statistics, issued by the Arif Habib Securities, Faujis’ (FFC, FFBL) urea off-take improved by 20 per cent MoM while a huge 90 per cent YoY in May (27-day provisional fertilizer figures) to 241k tons while ENGRO’s volumetric sales were up 103 per cent MoM and 57 per cent YoY to 101k tons. Likewise, Fatima showed a massive 367 per cent MoM increase to 35k tons in May 2013 while 5M cumulative urea sales of the company jumped 173 per cent YoY. NFML’s sales during May 2013 was recorded at 26k tons, down 11 per cent MoM and 44 per cent YoY during the month of May. Closing inventory of urea available with the local producers, as of 27-May, stood at 158k tons while total urea closing inventory (both local and imported) was recorded at 358k tons.
DAP sales remained downward trended (-14 per cent MoM) to stand at 45k tons in May’13 while, on 5MCY13 basis, DAP sales were massively up 37 per cent YoY. FFBL managed to sell 32k tons of DAP in May’13, largely flat MoM (-1 per cent MoM) while company’s cumulative off-take for 5MCY13 was substantially up 136 per cent YoY. ENGRO’s DAP off-take also showed some improvement with 25 per cent rise MoM to 7k tons while for cumulative 5MCY13 sales were still down 50 per cent YoY. DAP closing inventory, as of 27-May-13, stood at 270k tons (FFBL and ENGRO hold 153k and 27k tons, respectively).
CAN sales continued with its growth momentum with 145 per cent MoM taking total 5MCY13 sales upward by 59 per cent YoY to 87k tons during 5MCY13. NP sales during May’13 was also recorded at 29k tons, massively up 173 per cent MoM, and 7 per cent YoY in 5MCY13. The closing inventory of CAN, as of 27-May’13, stood at 24k tons.