External broker reports(aggregated public sources), Topline Securities

Topline Securities

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External broker reports(aggregated public sources)

Thematic (Sector/Industry)

Pakistan Materials / Thematic (Sector/Industry)

<ul><li>Pakistan Urea sales in Dec 2025 is anticipated to clock in at all time high of 1,356k tons, up by 65% MoM and 37% YoY amid push sales from company/dealers through higher discounts offerings.</li><li>As per our checks, EFERT has maintained discount around Rs400/bag during the month of Dec 2025.</li><li>The closing inventory of urea is expected to be around 0.315mn tons in Dec 2025, down from 1.13mn tons in Nov 2025.</li></ul>

Pakistan Urea sales in Dec 2025 is anticipated to clock in at all time high of 1,356k tons, up by 65% MoM and 37% YoY amid push sales from company/dealers through higher discounts offerings.As per our checks, EFERT has maintained discount around Rs400/bag during the month of Dec 2025.The closing inventory of urea is expected to be around 0.315mn tons in Dec 2025, down from 1.13mn tons in Nov 2025.

パキスタン肥料：2025年12月の尿素販売量は過去最高の1,356千トン、在庫は31万トン