KARACHI: Local cement sales dipped 18 per cent year-on-year to 2.65 million tonnes in September, plunging to 2017 level due to surging prices driven by irrational taxation and construction slowdown, said All Pakistan Cement Manufacturers Association (APCMA).
However, exports swelled by 71.52pc to to 978,871 tonnes compared to 570,692 tonnes in September 2023.
An APCMA spokesperson said this is the fourth straight monthly decline in sales and continuous downfall in industry’s capacity utilisation.
The overall despatches shrank 6pc to 3.54m tonnes in September from 3.751m tonnes last year. During the 1QFY25, total cement despatches were 10.269m tonnes, down by 13.6pc from 11.885m tonnes in 1QFY24. Domestic despatches fell by 19.78pc in July-September FY25 to 8.13m tonnes from 10.133m tonnes while export showed 22.19pc growth to 2.14m tonnes from 1.751m tonnes.
Urea, DAP offtake
Urea sales plunged 35pc year-on-year to 365,000 tonnes in September due to higher prices and weaker farmer economics.
Tanweer Ahmed of Topline Securities said urea sales also tumbled 35pc month-on-month due to seasonal factors. He said total DAP [di-ammonium phosphate] sales during September were anticipated at 143,000 tonnes, up 35pc year-on-year and 61pc month-on-month, thus taking 9M2024 sales to 940,000 tonnes, down 6pc.
Published in Dawn, October 4th, 2024
