Provisional fertilizer off-take figures show 11 percent MoM increase in urea sales for May'15. According to a report issued by Arif Habib Limited Research on Wednesday, the urea sales grew to 409k tons during the month under review. While a YoY account shows the sale of agriculture input swelling by 12 percent to 2,290k tons during 5MCY15. Company-wise, the FFC and FFBL's cumulative urea off-take declined by four percent MoM to 208k tons, while jumped by five percent YoY during 5MCY15.
Further, Engro's off-take posted meager increase of one percent MoM to stand at 122k tons and recorded six percent YoY growth in 5MCY15. In May'15, NFML sales stood at 37k tons compared to 8k exhibited in Apr'15 amid low base effect. Closing inventory for urea available with the local producers, as of May 31, 2015, stood at 147k tons, while total urea closing inventory, both local and imported, was recorded at 374k tons (NFML urea inventory stood at 221k tons).
The sales of DAP showed major improvement with 37 percent MoM increase to 93k tons in May'15. On 5MCY15 basis, DAP sales remained stagnant at 345k tons, 347k tons in 5MCY14. A company-wise analysis reveals that FFBL managed to sell 57k tons of DAP during May'15, translating into a jump of 73 percent MoM. Moreover, 5MCY15 cumulative figures depict two percent YoY growth in the sales and stood at 175k tons during the period. Engro's DAP sales registered 22 percent MoM growth to stand at 28k tons while remained stagnant at 87k tons in 5MCY15. The closing inventory of DAP as of 31-May-15, stood at 298k tons (FFBL holds approximately 132k tons).
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