LAHORE: As per the latest data released by National Fertiliser Development Centre (NFDC) for November 2016, urea sales posted a whopping increase of 2.3 percent on monthly basis to clock in at 764,000 tons as Rabi seasons kicks in.
On a YoY basis, urea off take witnessed an increase of 23 percent as subsidised price continues to support volumes. Cumulatively, 11MCY16 off take clocked in at 4.6 million tons compared to 4.7 million tons in the corresponding period last year, depicting a decline of 4 percent YoY. DAP off take for the month exhibited an increase of 32 percent MoM/17 percent YoY to 631k tons. Engro Fertiliser Limited remained a laggard on YoY basis, posting a growth of 7 percent with off take clocking in at 215k tons vis-à-vis industry growth of 23 percent in November 2016.
On sequential basis, however, the company outperformed the industry, exhibiting a massive increase of 3.4xMoM. Cumulatively, off take for 11MCY16 clocked in at 1.3 million tons compared to 1.5 million tons in the same period last year, down 15 percent YoY. On the trading front, EFERT exhibited a decline of 13 percent YoY with off take clocking in at 126k tons in the month. Fauji Fertiliser Limited’s urea off take clocked in at 350k tons depicting an increase of 17 percent YoY/78 percent MoM.
