Pakistan Fertilizer_DAP drives the volumes in Oct'21, (AKD Daily, Nov 25,2021)
AKD Daily
Pakistan Fertilizer: DAP drives the volumes in Oct’21
- As per the numbers released by NFDC, total urea offtake for the industry clocked in at 514k MT (+24%YoY/+5%MoM). The cumulative 10MCY21 numbers depict a growth of 12%YoY to stand at 5.16mn MT in contrast to 4.6mn MT in same period last year.
- DAP offtake increased 55%MoM/+49%YoY to 342k MT taking 10MCY21 DAP offtake to 1.4mn MT compared to 1.6mn MT in same period last year, down by 11%YoY.
- The local retail prices of urea currently stand at ~PkR1,800/bag while in the international markets, the price of urea is hovering around US$932/MT which translates into landed cost of PkR10k/bag, thereby providing ample room for the local manufacturers to pass on the costs in the local market in case of gas price hikes.
- The current international DAP prices stand at US$740/MT translating into landed cost of PkR8,200/bag. As per our channel checks, prices in local market currently stand at ~PkR8,100/bag, at par with the international markets.
AKD Research
Engro Fertilizers Limited is a Pakistan-based company, which is engaged in manufacturing, purchasing and marketing of fertilizers. The Company's brands include Engro Urea, Engro NP, Engro DAP, Zingro, Engro MOP, Engro SSP and Engro Zarkhez. Engro NP is the Company's fertilizer brand with Nitrogen and Phosphorous content in equal quantity. Engro DAP primarily contains Di-Ammonium Phosphate, and is imported by Engro EXIMP and marketed by the Company. Engro DAP is marketed in approximately 50 kilogram bags. Zingro is a micronutrient fertilizer, and is imported by Engro EXIMP and marketed by the Company. Engro Zarkhez has Nitrogen, Phosphorous and Potassium, and is primarily offered for sugar cane, fruit orchards, vegetables, potato and tobacco farming. Engro Envy is primarily offered to urban market for gardens, lawns, flower beds, fruit plants and ornamental plants. The Company is a subsidiary of Engro Corporation.
AKD Securities Ltd. is one of the leading securities firm in Pakistan, providing a comprehensive range of investor focused services, including equity brokerage, economic and securities research, investment banking and financial advisory services. AKD Securities accounts for more than 6% of the average daily value of the Karachi Stock Exchange. AKD Securities was the first brokerage house to launch an online trading platform in Pakistan in November 2002 and now has the largest market share with over 6000 customers. This has helped diversify and expand the retail investor base in the country and ushered in a whole new universe of investors to the stock market.
AKD Securities Ltd. caters to a diversified group of domestic and international institutional investors, high net worth individuals and upscale retail clients, including expatriate Pakistanis. With high quality research, unparalleled execution and distribution capability for both regular and large block trades, AKD Securities Ltd. has earned an outstanding reputation in the Pakistani securities industry.Outside of commercial banks, AKD Securities Ltd. is one of the biggest capital market firms in the country. AKD Securities is the leader in raising and providing risk capital in underwriting, market making and mergers and acquisitions in Pakistan. Good corporate governance and professionalism are emphasized throughout the firm and AKD Securities Ltd. is amongst the very few companies to have introduced a firm-wide comprehensive CODE of ETHICS, overseen by an independent compliance manager.Ultimately, our success is based on the quality of service we provide to our customers and the trust and confidence reposed in us by them. Our focus, therefore, remains on customer satisfaction at all levels in the company.
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