Pakistan Fertilizer: Sharp Increase in May 2019 Urea Sales amidst Budgetary Measure - By Topline Research

<ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Pakistan urea offtake during May 2019 witnessed sharp increase of 22% YoY to 600k tons as dealers/farmers have started early buying of fertilizer products amidst possible hike in GST to normalized rate of 17% from current 2%, which will increase urea prices by Rs270 per bag, we estimate.</span></li><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Urea production during the month is expected to post record growth of 34% as last year in May 2018 EFERT&rsquo;s plant was closed for maintenance. Closing inventory for May 2019 would be around 260k tons.</span></li><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">Similarly, DAP sales during May 2019 is likely to shoot up by 275% to 220k tons due to the af...