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Pakistan's fertilizer sales for FY2020 are heading for their lowest level since FY16, with urea off-take under half a million tons in the first two Kharif months. DAP sales are down 12% year-on-year, and urea stockpiles reached 1.1 million tons at end-May.
Weak off-take and high inventories reduce import demand for urea and phosphates in Pakistan, which is bearish for fertilizer prices.
brecorder.comBR ResearchJun 30, 2020Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
