Breaking News

Strong Recovery in Urea Sales Projected for December 2024

Karachi: Urea sales are projected to experience a significant recovery in December 2024, reaching the highest levels in over four years, Urea off-take is expected to reach 991,000 tons, marking a 58% increase year-on-year and a 52% rise month-on-month. The sales figure represents the highest level achieved in the past 54 months. In contrast, DAP off-take is anticipated to be around 152,000 tons, showing a 10% year-on-year increase but a 39% decline compared to the previous month. Cumulatively, urea off-take for the year is projected to close at 6.58 million tons, reflecting a slight decrease of 1% from the levels recorded in calendar year 2023.

According to JS Global, Fauji Fertilizer Company (FFC) is estimated to achieve urea sales of 317,000 tons in December 2024, representing a 38% increase compared to the same period last year. Meanwhile, Engro Fertilizers (EFERT) is expected to report a significant rebound in urea volumes, with a 96% year-on-year increase and a 113% month-on-month rise, totaling 412,000 tons. This recovery is primarily attributed to seasonal factors and the clearance of inventory. The higher off-take in December is likely to alleviate the elevated inventory levels observed in previous months, with inventory levels expected to settle at approximately 371,000 tons. EFERT is also anticipated to see a recovery in its urea market share, reaching approximately 42% in December 2024.

The post Strong Recovery in Urea Sales Projected for December 2024 appeared first on Pakistan Business News.

Check Also

MCB Bank Posts Robust Financial Results for 2024

Lahore: MCB Bank Limited has reported a strong financial performance for the year ended December 31, 2024. The Board of Directors, led by Chairman Mian Mohammad Mansha, approved the annual financial statements and declared a final cash dividend of PKR...

The post MCB Bank Posts Robust Financial Results for 2024 appeared first on Pakistan Business News.