Urea off-take up by 33pc in January

LAHORE: Urea off-take for the month of January 2018 clocked in at 539,000 tons in line with initial estimates, reporting a rise of 33 percent annually, according to recent data published by NFDC. The augmentation in total dispatches is primarily led by Engro Fertilizers Limited (EFERT) and FFC, which depicted a healthy accretion of 144 percent YoY and 45 percent YoY, respectively. Industry inventory during the month remained at comfortable levels of 254k tons; significantly down by 75pc YoY/25pc MoM, respectively. DAP sales during the month depicted a surge of 51 percent YoY to 92k tons as compared to 61k tons in the corresponding period last year.–Staff Reporter