July 3, 2012
Pakistan's June urea sales hit all-time high
As it has reached close to the mark of 900,000 tonnes during the month, Pakistan's urea sales has broken all records in the concluding month of June, fertiliser industry sources disclosed.
This is evident by the fact that with few days earlier data of this month indicates that sales have reached 830,000 tonnes, they said.
According to them, last time such a huge monthly sales was witnessed in December 2009 when 912,000 tonnes of urea sold in a single month. But December is usually a peak season for urea, they added.
Farhan Mahmood, a fertiliser industry expert, observed that such a huge recovery in June sales is due to pre-buying amid expected increase in urea prices if gas-cess is imposed and recovery in overall demand after lower than average sales in first five months.
Out of 900,000 tonnes likely sales in June, sales of local branded urea would be around 95% mainly led by record sales of FFC and Engro.
So far in June, imported urea available with NFML is estimated to be around 130-140,000 tonnes which also include portion of 100,000 tonnes tender floated few weeks back. Further local manufacturers are estimated to hold around 400,000 tonnes compared to 800,000 tonnes at the beginning of June 2012.
With June sales, first six months total urea sales will be approximately 2.6 million tonnes, down 2%. Local companies' sales are estimated at 1.7 million tonnes down 26%.