With Kharif season in full swing, total urea off-takes of the country witnessed a massive jump of 109 percent Year on Year (YoY) to stand at 1.02 millions tons end of June 2012. This huge off-takes of urea during June 2012 is a reason of aggressive buying by the dealers in the wake of expected upward price reversion in coming months.
On cumulative basis, urea off-takes during first half of current calendar year 2012 stood at 2.74 million tons compared to off-takes of 2.67 million tons during the same period last year, showing the appreciation of 3 percent YoY. According to Investcap, during the month of June 2012, FFC’s off-takes contributed 51 percent to the total off-takes, posting the sales volumes of 526,000 tons, up by 158 percent MoM and 157 percent YoY, compared to 204,000 tons during last month.
Engro’s off-takes contributed 22 percent in total off-takes posting the volumes of 223,000 tons, up by 247 percent MoM and 85 percent YoY, compared to just 64,000 tons witnessed during last month, FATIMA’s urea off-takes contributed 12 percent in total off-takes posting the volumes of 128,000 tons and FFBL’s urea off-takes contributed 6 percent in total which stood at 61,000 tons, up by 18 percent MoM, 24 percent YoY, against 52,000 tons witnessed last month. Off-takes of imported urea contributed 7 percent to the total, posting the volumes of 67,000 tons, up by 70 percent MoM, 178 percent YoY, compared to volumes of 47,000 tons during last month, the Investcap report said.
In addition, DAP’s off-takes during the month of June 2012 appreciated by 269 percent MoM to 96,000 tons compared to off-takes of 26,000 tons witnessed during previous month. Also on yearly basis, total DAP off-takes appreciated by 41 percent compared to off-takes of 68,000 ton witnessed during June 2011.