Equity Analysis /
Pakistan

Pakistan Fertilizer: June 2021 - Sales volume update

  • Urea offtake during June 2021 clocked in at c.690,000 tons, down 41% yoy and up 38% mom

  • EFERT has increased Urea prices by PKR50/bag, while FFC and FFBL are expected to increase prices from 1st August 2021.

  • We expect that offtake and prices of both Urea and DAP will remain elevated in the latter half of CY21

Intermarket Securities
27 July 2021