Urea sales have climbed up by 19.2 percent to 447,000 tons during for the month of October 2018 as compared with 375,000 tons in the same month of the last year. However, the sales have come down by 7 percent when compared with 482,000 tons in the month of September 2018. Analysts at Arif Habib Limited attributed decline on a monthly basis is owing to pre-buying in the prior month amid expected urea price hike post gas tariff increase.
In particular, FFC and FFBL’s cumulative urea off-take recorded an increase of 5 percent Year on Year (YoY) to 248,000 tons in October 2018 while declining by 16 percent on a Month on Month (MoM) basis. Similarly, EFERT’s urea off-take underwent a growth of 13 percent YoY but dropped by 16 percent MoM to 141,000 tons in October 2018. Whereas FATIMA’s sales escalated by a stunning 8x YoY and 2.8x MoM in October 2018 to 40,000 tons.