Fertilizer: Offtakes decline following advance procurement in prior month - By AKD Rsearch

<p></p><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Urea sales in Jan'24 dropped by 27%YoY to 446k tons, primarily attributed to higher advance procurement by farmers in the prior month.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">DAP sales fell 8%YoY to 61k tons compared to 67k tons in SPLY. Similarly, sales of other nutrients, CAN, NP, and NPK dropped by 2%/33%/28%YoY, respectively.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">FFC and EFERT urea sales dropped by 27%/49%YoY, respectively. In contrast, FATIMA&rsquo;s urea offtakes increased by 10%YoY, resulting in increase in its market share.</span></li></ul>