KARACHI: Urea sales in September clocked in at 428,000 tonnes, up by 17 per cent year on year (YoY) amid low base effect while it was down by 48pc month on month (MoM) due to pre-buying trend observed in August.

Pre-buying in August was led by continued higher discounts by select manufacturers during the month.

Asad Ali of Topline Securities said that Engro Fertiliser maintained an average discount of Rs260 per bag in both August and September, part of which was rolled back in the first half of September. Meanwhile, Fauji Fertiliser continued to offer discounts in the range of Rs40-70 per bag.

This will take 9M2025 urea offtake to 4.2m tonnes, down 8pc year-on-year compared to 4.57m tonnes in 9M2024, mainly due to weak farm economics.

The closing inventory of urea was around 1.17m tonnes in September, up from 1.03m tonnes ­in August.

Asad said that total DAP sales during September was anticipated at 71,000 tonnes, down 47pc year-on-year and 48pc month-on-month possibly due to delay in sowing sessions led by flood. In 9M2025, total DAP offtake was 769,000 tonnes, down by 17pc year-on-year.

He said the closing inventory of DAP was around 378,000 tonnes in September compared to 316,000 tonnes in August and 383,000 tonnes in September 2024.

Published in Dawn, October 5th, 2025