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DAP offtake up 104% in Jan-Mar

KARACHI: The fertilizer consumption increased by 104 percent in January-March 2009 with the sharp rise in both urea and DAP sales during the period.
According to the latest fertilizer data released by the National Fertilizer Development Centre (NFDC), the overall fertilizer sales has recorded 1.9 million tonne in Jan-Mar 2009 compared to 1.6 million tonne last year.
Due to low prices of DAP in the market and better crop support prices, offtake in March 2009 surged by a massive 244 percent to 75,000 tonne from just 22,000 tonnes in March 2008. As a result, offtake during Jan-Mar 2009 rose to 189,000 tonne up 104 percent from 93,000 tonne in 1Q2008.
Urea sales continued to show a positive trend with March 2009 offtake recorded at 464,000 tonne up 8 percent YoY. Moreover, cumulative offtake during 1Q2009 was up 10 percent YoY as volumes stood at 1,540,000 tonne as against 1,403,000 tonne during the corresponding period last year. The increase in urea offtake is very encouraging given the fact that average prices were around 20 percent higher in the current period.
The weighted average urea prices in said period were up by 22 percent YoY to Rs 743/bag, while DAP prices were up by 7 percent YoY to average Rs 2168/bag. staff report

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