Pakistan’s urea sales drop 19 per cent MoM, 1 per cent YoY in July 2025

KARACHI: Pakistan’s urea sales in July 2025 are expected to clock in at 608,000 tons, down 1 per cent year-on-year (YoY) compared to 612,000 tons in July 2024, mainly due to poor farm economics and the monsoon season.

On a month-on-month (MoM) basis, urea sales have declined 19 per cent amid the end of the Rabi season, according to Topline Securities.

This brings 7M2025 urea offtake to 2.96 million tons, down 19 per cent YoY from 3.65 million tons in 7M2024, again due to weak farm economics.

Closing inventory of urea is expected to be around 1.28 million tons in July 2025, down from 1.32mn tons in June 2025.

Company-wise, Engro Fertilizers (EFERT) holds the highest inventory at 574,000 tons, followed by Fauji Fertilizer Company (FFC) with 330,000 tons and FATIMA with 306,000 tons.

In terms of sales, EFERT is expected to post a 16 per cent YoY decline to 207,000 tons in July 2025. FFC, on the other hand, is likely to register a 10 per cent YoY increase to 273,000 tons, while FATIMA’s sales are projected at 97,000 tons, up 4 per cent YoY.

Total DAP sales for July 2025 are anticipated to be around 109,000 tons, down 33 per cent YoY but up 1 per cent MoM. For 7M2025, total DAP offtake is expected at 557,000 tons, showing a 21 per cent decline from the previous year.

Company-wise data indicates FFC and EFERT are likely to post sales of 85,000 tons and 3,000 tons respectively, while other players are expected to contribute 21,000 tons in July 2025.

Closing inventory of DAP is projected at around 276,000 tons in July 2025, down from 323,000 tons in June 2025 but up from 166,000 tons in June 2024.

Going forward, urea inventory is expected to remain elevated and is projected to close at over 1.2 million tons by December 2025, the report added.