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Site update: July 13 2018, at 17:45 PKST
Stock update: July 13 2018.

Recent Financial News in the 'chemical' category

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Tuesday, July 03 2018

Fertilisers exports grow by massive 632pc
ISLAMABAD:- Fertilisers exports from the country during 11 months of the fiscal year ended on June 30 witnessed tremendous growth of 632.74 percent as compared to exports of the corresponding period of last year. During the period from July-May, 2017-18, about 234,145 metric tons of fertilisers worth $51.321 million were exported as compared to exports of 30,124 metric tons valuing $7,004 of same period last year. Meanwhile, the country also earned $957.940 million by exporting other chemicals and pharmaceutical products, which stood at $784.800 million in the corresponding period of last year, said the data of Pakistan Bureau of Statistics.
Related news categories: business chemical economic-indicators fertilizers misc

Thursday, June 28 2018

Urea sales down in May
LAHORE - National Fertilizer Development Corporation (NFDC) released fertilizer numbers for May-2018, wherein local urea sales depicted a slight attrition of 5 percent YoY to clock-in at 494,000 tons, in-line with estimates. Cumulative sales for 5M2018 remained impressive, where industry offtake clocked-in at 2.1 million tonnes as compared to 1.6 million tonnes in the corresponding period last year, up by a healthy 29percent YoY. Fauji Fertilizer Bin Qasim Limited (FFBL) and Fauji Fertilizer Company (FFC) outperformed peers, with growth of 15 percent YoY and 14 percent YoY respectively, during the month. However sales of Engro Fertilizer Limited (EFERT) declined, albeit by a mere 2 percent YoY. DAP sales during May-2018 dropped by 15 percent YoY to 69k tonnes, also in-line with our estimates. EFERT remained the star performer in the DAP segment, posting sales growth of 166 percent YoY. On the other hand, FFBL's DAP offtake witnessed attrition of 56 percent YoY. Inventory levels of both urea and DAP remained at comfortable levels, clocking-in at 329k tonnes and 387k tonnes, respectively.
Related news categories: business chemical economic-indicators fertilizers misc

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