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Engro Fertilizers in Pakistan reported a 37% drop in 2016 comprehensive profit to Rs 9.3 billion, while urea off-take rose 8%. The company is expanding its urea manufacturing to reduce Pakistan's urea imports.
Expanded domestic urea output in Pakistan could reduce import demand, a mildly bearish factor for global urea prices.
pakistangulfeconomist.comS. Kamal Hayder KazmiApr 10, 2017Not 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.
