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Fertilizer update
Apr 09:   Q4 is generally a weak season for the fertilizer companies as demand remains low in this quarter.
8The inventory position for urea is down by 43% yoy to 1.2mn mt. This in turn leaves room for higher channel filling for the companies. Hence, it is believed that the fertilizer companies will report higher volume growth in FY19.
8Globally, prices of key fertilisers such as Urea and DAP are on an upward trajectory while MOP prices have stabilized in the last one quarter.
8Complex fertilisers’ realizations remained stable; on the back of good demand, companies are offering lower discounts compared to last year.
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