Urea Sales Rise 4% in July 2025
Staff Report
Islamabad: Pakistan’s urea sales in July 2025 are estimated at 608k tons, slightly down 1% YoY compared to 612k tons in July 2024, mainly due to weak farm economics and the ongoing monsoon season. However, on a MoM basis, sales increased 4% as compared to June 2025, despite the end of the Rabi season.
This brings the total urea offtake for 7M2025 to 2.96mn tons, reflecting a 19% YoY decline from 3.65mn tons in 7M2024 due to subdued agricultural demand.
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Closing inventory for July 2025 is estimated at 1.28mn tons, slightly lower than 1.32mn tons in June 2025.
Company-wise data shows:
- Engro Fertilizers (EFERT) holds the highest inventory at 574k tons but expects a 16% YoY drop in sales to 207k tons.
- Fauji Fertilizer Company (FFC) is projected to post a 10% YoY rise to 273k tons.
- Fatima Fertilizer (FATIMA) anticipates a 4% YoY growth to 97k tons.
DAP sales in July 2025 are projected at 109k tons, down 33% YoY but up 1% MoM. Cumulative DAP offtake for 7M2025 stands at 557k tons, down 21% YoY.
DAP closing inventory is expected at 276k tons in July 2025, down from 323k tons in June 2025 but up from 166k tons in June 2024.
- FFC and EFERT are estimated to sell 85k tons and 3k tons respectively, while other players may contribute 21k tons.
Outlook:
Urea inventory is expected to stay elevated and may close December 2025 at over 1.2mn tons.
