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NFDC data show Pakistan's total nutrient offtake fell 7.4 percent in May 2018 to 304 thousand tonnes, with urea down 5.2 percent and DAP down 17 percent year on year. Imports were 191 thousand tonnes, mostly DAP.
Weaker fertilizer demand in Pakistan is a small bearish signal for urea and DAP in regional markets, though the market is too small to move global prices.
mettisglobal.newsMG NewsJun 26, 2018After 42 past bearish report events, Urea moved a median +0.3% over 5 sessions (57% higher; middle half -1.9% to +3.3%), and +2.9% over 20.
After 35 past bearish report events, DAP moved a median 0.0% over 5 sessions (37% higher; middle half -0.7% to +1.5%), and +0.6% 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.
