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Pakistan's National Fertilizer Development Centre reported December 2017 fertilizer offtake of 480,252 tonnes, down 19.2% from November and 6% below the five-year December average. Urea offtake fell 20.1% and DAP offtake fell 7.3% over October to December compared with the prior season.
Weaker fertilizer offtake signals softer demand in Pakistan, reducing import needs for urea and DAP. The impact on global fertilizer prices is limited given the country's share of world trade.
mettisglobal.newsMG NewsJan 24, 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.
