Pakistan Fertilizer Sector: Sales Down, Profits Steady
ISLAMABAD: In Pakistan fertilizer sector, for sales the sluggish trend continues, though the analysts believe sector players would pass on the impact of hike in gas prices along with any inflationary pressures which would keep profitability intact.
With the Rabi season ending and no major sowing being done, fertilizer offtake continues its sluggish trend. In February 2025, Urea sales recorded a decline of 36 month on month and 22% year on year to 347,000 tons.Fertilizer Firms Directed to Open Sales Shop
Company wise analysis reveals that FATIMA urea offtake improved 42/24% YoY/MoM to 69KT in Feb’25, whereas FFC/EFERT recorded a decline of 35/52% YoY to 156/94KT, respectively.
Industry DAP offtake dwindled 65/35% YoY/MoM in Feb’25 to only 40KT. FFC/EFERT DAP offtake declined 83/86% YoY to 25/3KT, respectively, whereas FATIMA DAP offtake inclined 22/64% YoY/MoM to 4KT.
Fertilizer sales remained lethargic in Feb’25: Pakistan domestic Urea offtake declined by 36/22% YoY/MoM in Feb’25, reaching 347KT. DAP offtake dropped 65/35% YoY/MoM to 40KT.
NP offtake lessened/increased 46/19% YoY/MoM in Feb’25 to 44KT, while CAN offtake deteriorated 3/12% YoY/MoM to 66KT. Industry urea inventory levels have stayed on the lower end due to no imports and lower production reaching 536KT in Feb’25.
DAP inventory has also eased off to 160KT due to no imports in Feb’25. Company-wise urea inventory was recorded at 67/280/168/21KT for FFC/EFERT/FATIMA/AGL, respectively, in Feb’25. DAP inventory of FFC/EFERT reached 66/57KT.
FFC/EFERT offtake dropped YoY: FFC/EFERT urea offtake dwindled 35/52% YoY, respectively, to reach 156/94KT in Feb’25. Market attributes this decline solely to the seasonality factor.
