Urea off-take down 83pc in Sept

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LAHORE – The urea off-take for September 2017 recorded a decline of 83 p.c on month-to-month foundation and 46 p.c on yearly foundation to clock in at 160,000 tons (excluding exports). The decline could be attributed to excessive base impact the place Aug 2017 off-take was unusually excessive given heavy value reductions supplied throughout the board.

Total in 3Q17, urea off-take clocked in at 1.45m tons which is eight% greater than 5-year common of 1.3m tons in the course of the interval beneath assessment. Apparently, this time round 89% of the whole quarterly off-take was witnessed in July-Aug interval in comparison with 5-year common of 75%.

Exports in the course of the month remained dismal recording a dip of 63% MoM to 43,000 tons, regardless of vital 25% MoM rise in int’l urea costs. Nonetheless, a lagged affect of elevated exports could be witnessed in Oct 2017 as invoices are being recorded. DAP off-take, however, surged considerably to 375,000 tons primarily as a consequence of decrease off-take throughout Aug 2017 in contrast to urea gross sales.

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