Loading…
Pakistan's urea offtake rose 240.4% year on year in October 2020 to 413 thousand tonnes, according to the National Fertilizer Development Centre. The prior-year base was depressed by high prices and uncertainty over the GIDC levy.
Closing inventories for December to February are forecast below recommended levels, signalling a tight supply position.
Tight Pakistani urea stocks and strong demand can lift regional import needs and support urea prices. The offtake jump mainly reflects a weak 2019 base, so the signal is moderate.
mettisglobal.newsMG NewsNov 25, 2020After 76 past bullish report events, Urea moved a median 0.0% over 5 sessions (49% higher; middle half -2.2% to +2.9%), and -0.3% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
