FFC’s grip on the DAP market loosened in August 2026. Its share dropped to about 72 percent, down roughly ten points from a year earlier, as phosphoric acid prices climbed and supply stayed tight.
High input costs and regional tensions continue to weigh on phosphatic fertilizers. That pressure is now showing up clearly in monthly offtake numbers.
Demand Remains Compressed Across Products
Urea offtake fell 14 percent year on year to 701,000 tons, even after a 21 percent rise from July. DAP volumes slipped 8 percent to 126,000 tons, as per Optimus Capital Management.
NP demand was hit hardest, dropping 49 percent to just 42,000 tons. CAN offtake was almost flat, down 3 percent.
Farmers are still holding back. Elevated bag prices have kept buying cautious through the Kharif season.
Prices Rise Again in August
DAP prices increased about 2 percent month on month to PKR 16,480 per bag. NP followed with a similar gain to PKR 10,318.
Urea and CAN each rose around 1 percent, reaching PKR 4,679 and PKR 4,319 per bag. Prices are likely to stay high until tensions in the Middle East ease.
Share Shifts in Urea and DAP
Engro Fertilizers took about 47 percent of the urea market in August by running down accumulated stocks. FFC’s urea volumes fell 30 percent year on year.
In DAP, FFC still leads but lost ground. Engro more than doubled its DAP offtake from a low base, while other suppliers also gained share.
Fatima remains the main supplier of CAN and NP, though both products saw weaker volumes.
Inventories and Full-Year Outlook
Closing urea stocks stood at about 709,000 tons, down 22 percent from July. DAP inventory was little changed at 253,000 tons.
Full-year urea demand is expected near 6.4 million tons and DAP near 1.2 million tons, assuming production stays steady. Import risks for fertilizer and RLNG remain the main threat to that outlook.